Greed affects people in many different ways. The Facebook IPO ‘greedwave’ spread to the housing market. house prices around Facebook’s Menlo park head office rose in expectation of the wave of expected new millionaires.
Zillow, the real estate property network, had a look at the impact that the IPO had on the value of a house and produced this infographic. Zillow calls it the ‘Menlo park effect’.
Its sad that the greed of property owners in the bay area forced up the prices of near million dollar homes in the area. Hopefully the stock price will stabilise enough for the house prices to actually sell in these straightened times…
Hat tip to the All Facebook blog..
Eileen is a social business strategist, ZDNet columnist and author of Working The Crowd: Social Media Marketing for Business. Contact her to find out how she can help your business extend its reach.