| The U.S. housing bust continues to wipe out wealth in major markets nationwide. Then there's Silicon Valley. Investor enthusiasm for technology initial public offerings this year has resulted in big payouts for some workers, who are bidding up home prices in the well-off suburbs south of San Francisco.
In May the median price of single-family houses sold in Palo Alto climbed 20 percent from a year earlier, to $1.6 million, the biggest jump since 2008, according to preliminary figures from research firm DataQuick. In Mountain View, where Linked In (LNKD) is based, prices rose 3.1 percent, to $957,500..............................................Full Article: Source
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