This home — it’s a burned out shell of a home, to be truthful — is located in California’s Silicon Valley, tech and overnight billionaire mecca of the world, where the housing market is notoriously unaffordable. If you do not earn at least $333,000 a year ($176,000 if you buy a condo), you likely cannot afford a home in this neck of the US. Affordable homes are as rare here as ice.
But this home, this listing, for a burned-out shell of a home, obviously a tear-down, has sparked outrage online.
My daughter in law told me about it when I was out here last May. The property in San Jose’s Willow Glen neighborhood was recently listed for $800,000. ty you cannot live in is $800,000 FOR THE DIRT. Yes, a burned out property is worth that much for 5850 square feet of dirt.
The property has actually already sold, for $938,000 according to Zillow. $138,000 above asking price.
Funny: Zillow’s “zestimate” had the price appraised at $1,028,696.
The problem in northern California is that as the concentration of wealth grows into the hands of a smaller, more select few, prospects for middle class living and housing are all but obliterated. Of course, those fed-up with housing prices here cash out their homes and move to other U.S.cities, such as Dallas/Fort Worth, where our housing prices appear downright cheap.
“800k for that…. What has this area come to when a family earning good money cannot even afford to buy even a burnt out wreck,” Cally Jayne wrote. “Greed, pure greed from all concerned right here.”
“Meanwhile, 10 blocks in any other direction there are homeless encampments every which way you turn!!! I live down the road from this houses property and the land is not bloody worth it! Just goes to show where the Bay Area is now,” Adrian Huang said.