The price is too high, making property tax too high. Plus the house is old and rundown. Not to mention the tax when selling your stocks. It pencils out better if you buy newer house in South SJ or Hayward and send kids to private schools. If mom and dad are rich, then it’s a different story… #housing
The schools and the Asian community. That’s basically it.
It’s not unknown reasons. Location is one thing about a house that you cannot change, so if someone wants to live around certain restaurants, churches, jobs, etc then it makes sense to them. That’s how it has always been.
I’m just saying that people have different priorities. Some people prioritize community/commute over travel/cars. That’s not for anyone else to determine. Why do people feel the need to yuck someone else’s yum?
It's really a bubble, bigger than Tesla stock bubbles.
Why do you think so?
Cupertino is about school and location to major tech companies, agreed? Those things can and will change. Transportation with self driving cars will change the way people buy houses in Bay area. 10 years from now, San Jose could become equally expensive as Cupertino.
Buy a 3M house and pay $35k property taxes while your neighbor who bought in 1972 pay $1000. Yeah totally sane
It's public info, just look for any address on redfin and the tax record is there even if they hid the sales history
Short term thinking never works for these areas. Cupertino was crazy expensive even 15 years back when price was $1M. $35k taxes seem high today but in 30 years you will be paying a fraction of what someone who buys then will be paying. California is one place where buying earlier has the most benefits. It’s always high at time of buying but works out insanely well the longer you hold.
location location location, think about manhattan, no school district, still very good appreciation in the past 30 years
One of the high schools in that area will be shut in a few years due to drop in enrollment.
This.. People don’t realize the economics of a bubble
lynbrook get 50 million dollar funding in next 5 years cupertino get 40 million.. all from local parcel tax... clark said even the enrollment dropped to 1000 per school they will still be able to keep school open... just let you know high school funding come directly from LOCAL property tax not from state.... higher the housing price => more school funding , smaller size class is more desireable than large size class....
Cupertino schools are reporting high rise in drug abuse amongst due to quality of students going down dramatically.
Not sure but Cupertino school district’s image is getting tarnished because of this
Not really, but feel free to spread misinformation
Cupertino schools are not the best anymore, check the reports of the bests schools in California. Not to mention aging population in Cupertino leads to school enrollment decline and decline in school funding ( if you don’t have kids in schools you will most probably vote against any financial support). It is still convenient location for commute in sillicon valley but that’s about it.
That’s about it? That good commute is worth millions dollar bro. Despite good school system
With hybrid model, commute time is also becoming less important.
Indeed