By John Rubino – Re-Blogged From Dollar Collapse
Home prices are still rising pretty much everywhere in the US, with California as usual leading the way. State-wide, the median CA home is now above $600,000, up 9% year over year. In San Francisco County, homebuyers are paying an average of 18% above the asking price, and price per square foot is now more than $1,000.
Even Silicon Valley residents, who are used to this kind of thing, are finding it remarkable. See ‘Facebook is taking everything’: rising rents drive out Silicon Valley families.