January 30, 2007
Silicon Valley: Land of the Haves and the Have-Mores
BusinessWeek reported today that the area of the United States where the disparities in home prices were the narrowest were in Silicon Valley’s San Jose, Santa Clara and Sunnyvale. This wasn’t because the most expensive homes weren’t expensive; in fact the Silicon Valley homes priced in the 99th percentile were more expensive than the 99th percentile in Miami ($2.5 million vs. $2.2 million), which had the greatest disparity in home prices. What made Silicon Valley so egalitarian was that the median home price was $745,000.
