Peak Palo Alto

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The good people of my fair city are getting slack-jawed over real estate. Even with interest rates rising (should SHOULD diminish any asset that depends so heavily on debt), prices just keep getting crazier. Right on the front page this morning is a 900 square foot shack in a crappy part of town that sold for two and a half million bucks, way over the asking price.

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Funny enough, just above that article is, by chance, a tiny ad for a home on a Carmel golf course (let’s face it, a much nicer location) which is brand new, 3,000 square feet, looks quite nice……….and is the identical price.

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