In 1960, a house in Santa Clara County cost about $145,000 in 2018 dollars, roughly 2.3 times the median annual income for a household in the region. By 2000, that had grown to $651,000 and six times the median household income. In 2018, a home in the valley cost an average of $1.1 million, 8.8 times the median household income that year.
As to the major landholders: note that a a billion-dollar holding is roughly 1,000-2,000 housing units (assuming $500k/apartment). So even a $10 billion portfolio is about 20k residences, max. A chunk of the total inventory, but not a massive share. Most players listed are well below that level, and the corporate entities mentioned are largely invested in their own campuses.
Stanford University excepted.
Assessing a substantial LVT on The Farm might be a Really Good Policy to look into.
In 1960, a house in Santa Clara County cost about $145,000 in 2018 dollars, roughly 2.3 times the median annual income for a household in the region. By 2000, that had grown to $651,000 and six times the median household income. In 2018, a home in the valley cost an average of $1.1 million, 8.8 times the median household income that year.
As to the major landholders: note that a a billion-dollar holding is roughly 1,000-2,000 housing units (assuming $500k/apartment). So even a $10 billion portfolio is about 20k residences, max. A chunk of the total inventory, but not a massive share. Most players listed are well below that level, and the corporate entities mentioned are largely invested in their own campuses.
Stanford University excepted.
Assessing a substantial LVT on The Farm might be a Really Good Policy to look into.