VOICED: Tech spurs growth in Silicon Valley housin

The video discusses the booming real estate market in Palo Alto, driven by the tech industry's resurgence and Facebook's IPO. With limited housing supply and increasing demand from new millionaires, home prices are soaring. The trend is expected to continue as tech companies expand, further boosting the local economy and real estate market.

What is the current trend in the Palo Alto real estate market?

• Homes are selling below the list price.

• There is a high demand with multiple offers.

• The market is experiencing a decline.

• There are many foreclosures.

How is the Facebook IPO expected to affect the local real estate market?

• It will decrease the demand for homes.

• It will have no impact on the market.

• It will lead to more foreclosures.

• It will increase the demand for luxury homes.

How many homes are currently for sale in Palo Alto out of 12,000?

• 5,000 homes

• 51 homes

• 500 homes

• 1,200 homes

What is the anticipated effect of Facebook's workforce expansion on the housing market?

• It will have no effect on the market.

• It will drive up real estate prices.

• It will decrease the number of available homes.

• It will stabilize housing prices.

What is the expected impact on realtors due to the tech boom?

• Realtors leaving the area

• No change in business

• More business for realtors

• Less business for realtors