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Don't Call It The Next Tech Bubble-Yet
Oleh:
Kaplan, David A.
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
Fortune vol. 164 no. 2 (Jul. 2011)
,
page 48-56.
Topik:
IT Industry
;
Tech Companies
;
Silicon Valley
;
Housing Market
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
FF16.46
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
Signs of exuberance are everywhere: Tesla roadsters, soaring real estate, overpriced vinegar - and eye-popping valuations for pre-IPO companies like Facebook and Zynga. So why are so many Silicon Valley denizens reluctant to use the B-word? Michael Dreyfus, 49, is a leading real estate broker in the heart of Silicon Valley. During the winter he sensed the housing market was coming back, though he hadn't a clue what he'd be in for. In February prospective sellers came to him with a listing for a perfectly respectable property in Palo Alto: four bedrooms, three bathrooms, 7,500-square-foot lot, needs work. He recommended that the sellers ask $1.9 million. When the house went on the market in April, they had bumped the price to $2.3 million. Seven offers came in above that price; $2.7 million won the frantic bidding. Several buyers attempted to make offers even as the broker was supervising repairs to a kitchen flooded by a burst pipe. What's a little leak when the price tomorrow may hit $3 million? "We live in an alternative universe here," Dreyfus acknowledges.
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