Well, it’s been awhile since I’ve made you aware of a real estate offering in my fair city, so I present you now with 221 Santa Rita Avenue here in Palo Alto. For the low price of $3.4 million (well, that’s the ask – – it’ll surely go for a lot more with many offers) you can call this place your own personal palace:
Yes, I recognize all too well that the stock market is at the highest levels seen in the history of the universe……..
I’ve done many, many posts about the insane real estate market here in the Bay Area. I’m not going to bore you with another “can you believe how much they want for this?” because, by now, I think you kind of get the point.
However, this week, in the venerable Palo Alto Weekly (which, as is typical for the newspapers around here, has a publishing frequency that has absolutely no correlation to its moniker) a local real estate agent, Xin Jiang (pronounced “Xin Jiang”) composed the following article, which I have helpfully highlighted for you: (more…)
Here’s your latest real estate update about my neighborhood: in this morning’s paper, I was amused to see this color photo of a house that was just sold which – evidently – exhibits “Gorgeous Craftsmanship.” Try to drink in the beauty……….if you can:
It was offered at $2 million, but as you can see, it “SOLD over asking!” I would also point out to the uninitiated that this hallmark of craftsmanship is in a pretty nasty part of town. So there ya go.
Anyway, with all the post-Fed nonsense, I just thought I’d post something silly.
It seems that one of the principal beneficiaries of the constantly-declining interest rate market has been real estate (coupled with the fact, I suppose, that newly-minted millionaires from China want to shove their money safer than the Middle Kingdom). Whatever the reason, the chart below, which is the triple-bullish real estate ETF, is jaw-dropping. (more…)