An Interest in Real Estate Can Be Fatal

Grumbling about sub-audible ring-tones used by teenagers, The New Yorker’s Louis Menand (pictured below) this week writes about real estate as one of the final stages in the aging process: “it’s not long until you find that you are unable to stop talking about real estate, which is the first step down an increasingly rocky and overgrown path that leads, almost always — all right, always — to death.”
Louis Menand.jpg

Cheery sentiments to discover in the Redfin bathroom. But it got me thinking about a question we’re often asked at Redfin, which is “Why are all the Internet real estate companies in Seattle?” Our theory: real estate prices are so high in Silicon Valley that only somebody well on his way to death can afford to buy a house. By that time it’s too late to start a company. So Internet real estate companies have shown up in another high-tech spot where the entrepreneurs can afford to buy houses, Seattle.