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Reply to "What is stopping NoVA from reaching SV level prices?"
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[quote=Anonymous]This is such an interesting thread. We left SV because of the stress on families and kids. I don't think it is 2% of people who go every year who are finding success in the multimillion range. Ha ha. It is a much smaller percentage like .02. I agree that prop 13 is the biggest difference, and that, combined with geographic challenges (a big body of water in the middle, and mountains and foothills on either side) is what has made a special storm. Also pp asked about people renting - the tax rates are not just for owner occupied homes. They are limited in how much they can increase per year across the board. This keeps property from turning over AND creates a bad situation with school funding that puts more pressure on families. I agree about the mining camp analogy. That is perfect. [/quote]
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