Imagine looking for a house in San Francisco or one of the nicer parts of Silicon Valley, which are already among the most expensive parts of the country. Now imagine having to bid against a legion of newly minted Facebook millionaires.
“I’m kind of worried — a thousand millionaires are going to be buying houses!” Connie Cao said as she and her family toured a home in a good school district here.
Her husband, Jared Oberhaus, was more optimistic. “Maybe sellers are sitting on their houses now, waiting for Facebook, and they’ll all come on the market at the same time,” he said.
To read the full, original article click on this link: California Housing Market Braces for Facebook Millionaires - NYTimes.com
