How well I remember my managing broker announcing at an office meeting years ago that Menlo Park was now a million-dollar town. Yes, thanks to dot-com money the average Menlo Park transaction price was now a staggering $1M! That was 1998, or maybe 1999, or maybe 2000–maybe I don’t remember it all that well after all. But what I do remember, distinctly, was how proud my manager and I were that the city in which we lived and worked could now call itself “a million-dollar town”. Our town. A million bucks.
I don’t remember this outburst of civic pride taking into account the downside of being a million-dollar town: that worthy people who, six months or a year before, could have afforded Menlo Park now couldn’t. Maybe this escaped our attention because, back then, no one was protesting at Google shuttle stops.