posted at 06:50
Author Name: Jay Yarow
Google CEO Larry Page: Houses Should Only Cost $50,000
Google CEO Larry Page thinks houses in Silicon Valley are needlessly expensive. He believes million dollar homes should be going for $50,000. "Even more than technology, he puts this down to policy changes needed to make land more readily available for construction. Rather than exceeding $1m, there's no reason why the median home in Palo Alto, in the heart of Silicon Valley, shouldn't cost $50,000, he says." If Page thinks that all it takes is changes in policy to free up development to create more housing units to drive down prices, we disagree. New York City and its surrounding areas are just about as developed as it gets. Houses in the New York metro area nowhere close to $50,000. Could policies free up more development to increase supply and thus lower prices? Sure. In the New York metro area barely supports all the people that live in it.

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