The Google Effect Hits Atherton
Think it's tough to find good real estate in your town? Try living in Atherton, California, otherwise known as Google country. Google's stock offering has sent many employees house-shopping for multimillion dollar homes. Atherton, the most expensive zip code in the country, has a median home price of $2.5 million and the prices go far upward from there. There are a limited amount of homes in Atherton because it is a small town of around 2,500 homes. Because of the exclusivity, Atherton isn't worried about a real estate bubble popping anytime soon. Amazingly, Larry Ellison's $25 million Atherton home is still on the market (three months and counting).