Stock Options – the only way to buy a house in Silicon Valley
WSJ.com – Silicon Valley’s Tech Revival Spurs New Fever for Cashing In Options
Economists say people are putting their options profits into such areas as new investments and home improvements. The Construction Industry Research Board, a nonprofit construction-research firm, calculates that residents in Silicon Valley’s Santa Clara County spent $416 million last year on home remodeling, compared with $331 million in 2001.Catherine Marcus, a real-estate agent in Menlo Park, Calif., says homes priced from $2.5 million to $7 million are selling briskly, partly driven by buyers using stock-option profits. “It’s the stock-option people…that are buying,” Ms. Marcus says.
So that’s the key to buying a house with more than 3 rooms, and fewer than average termites in Silicon Valley – stock options!
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