High-end housing sales in Silicon Valley are booming

[Newsjock]

Source: San Jose Mercury News

It's a tale of two valleys: The housing market in Santa Clara County is starved for sales at the low and middle end, but enjoying a revival of sales in homes worth $2 million or more.

Sales of houses in that price range were up 9 percent in January and February from the same period last year, according to DataQuick Information Systems.

... The highest end seems especially hot. (Richard Calhoun of Creekside Realty in San Jose) found that in the first three months of this year, twice as many homes were sold for $5 million or more in Santa Clara and San Mateo counties as there were during the same period of 2010.

... The trend is being repeated around the state. In January, DataQuick reported that the number of California homes sold for $1 million or more in 2010 rose for the first time in five years while overall sales dropped by 9 percent.

Read more: http://www.mercurynews.com/business/ci_17754937

[midnight]

1. Really... So when the mega rich receive entitlement programs they

get to move forward.... But those stripped of jobs, and taxed at higher rates, don't get to move forward... I think this has worked out really well for the mega rich....

[RKP5637]

3. Yep, it's all part of the plan, make the masses serfs toiling the fields, cheap

throw away labor.

[xchrom]

2. recommend

[Sherman A1]

4. Disgusting

It is truly the new Gilded Age.

[90-percent]

5. Oh oh oh

It's a little trite, but the times we are in should be called

GILDED AGE 2.0

high tech merged with economic servitude that marks the current times!

Can I copyright it?

-90% Jimmy

ps - a moment of silence for Little Steven's show currently playing the ORIGINAL NOT FADE AWAY by Buddy Holly. Buddy Holly was God's gift to rock and roll!

[dixiegrrrrl]

6. Hmmm..how much yearly property tax is $5 mil home in Ca??????