So this isn't the same as SV, but I grew up in Waterloo, Ontario. Which is kind of like Canada's SV. The prices have gone just mental over the past few years.
We're looking at buying a house, and thanks to working remotely, I can live anywhere. The result is that by buying a house just 45 minutes down the highway from Waterloo, I get literally 50% more house for the same price.
45 minutes from Waterloo is waaay out in the country. You should be able to 2x your home.
The Waterloo spike is odd: you'd think the death of BlackBerry would hurt ...
But the Canadian economy is built on 'housing mortgages', what's happening really I think is spillover from Toronto.
A lot of folks are leaving Toronto and Waterloo is now having 'just enough appeal' for some: regular home prices, 1 hr from the city, less traffic etc..
Well duh, this makes sense. But 45 minutes out of the city you lose many of the perks -- easier and healthier (more walking, less car) access to shopping, food, services, etc.
Do you have kids? I still don't understand the suburban escape when people have children. Going from a city with tons of services near you (for the kids!) to driving everywhere.
We're looking at buying a house, and thanks to working remotely, I can live anywhere. The result is that by buying a house just 45 minutes down the highway from Waterloo, I get literally 50% more house for the same price.
Location location location is just mental.