Home Prices Drive Mayor To Hills

"Buying a house in one Silicon Valley city is so expensive that even the mayor can't afford to live there."

1 minute read

November 16, 2000, 9:00 AM PST

By Abhijeet Chavan @http://twitter.com/legalaidtech

The mayor of a Silicon Valley city is moving away because of high prices."Currently, San Carlos gets little revenue from property taxes, but generates a lot of funding from sales tax. Thus, when the city must chose between building new houses or apartments versus building a new Home Depot or Best Buy, the city chooses the business because it benefits the city financially. "

Thanks to Abhijeet Chavan

FULL STORY: Home Prices Drive Mayor to Hills

Wednesday, November 15, 2000 in Westword

Housing California

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