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Soaring home prices

I saw an article the other day about home prices. This particular home was in Sunnyvale, Calif., and sold for over $2,000 a square foot. Yes, this was a record.

We might not see this extreme everywhere. Sunnyvale is right in the heart of the Silicon Valley where everything is ridiculously overpriced. A place where a hamburger costs $17. But even in areas where the economy is not booming, home prices have soared.

This creates a big problem for those who run a business. On one hand, higher prices can be commanded and that might seem like a good thing. On the other hand, businesses need employees and those employees have to be paid a living wage. But how can an employer pay enough to enable his employees to support a family when everything carries an astronomical price tag?

What happens is that the working people have to find places they can manage to afford and that often means living far from where they work. This translates into long commutes, sometimes taking hours just to get to work, adding four or five hours to the workday. Not the best situation if we want our employees to arrive feeling relaxed, rested and ready for work

Answer? Well, I don’t have one right now but I’m open to suggestions.

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