A Beta Look: Million Dollar Shack

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Silicon Valley has always been known as the home to tech behemoths that produce gadgets used worldwide. Recently, it has also produced million dollar shacks. Home prices in the valley have always been above average but in recent years, affordability is at an all time low with even more demand than the pre – 2007 Housing Bubble. There are two reasons behind this phenomenon. Tech IPOs have increased the purchasing power of many individuals, allowing them to afford homes at higher price points. Also, the increase in foreign investments from China have fueled the spike. However, with the number of tech IPOs decreasing and the Chinese economy slowing down, there will be a correction soon.

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$2M Shack

 

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