Paragon name-checked in New York Times article
Not only is Paragon Real Estate making waves in the Bay Area, but its research is being noted across the country – and in particular in a New York Times piece about a Silicon Valley investor’s warning that there may be a bubble afoot in the tech world.
Prominent investor Bill Gurley said earlier this month at the South by Southwest conference in Austin, Tex., that venture firms take major chances on up-and-coming tech firms with no true business experience. That can translate to high burn rates, also known as a lot of cash out without a lot of productivity to show for it.
“There is no fear in Silicon Valley right now,” Gurley said, as quoted in the Times. “A complete absence of fear.”
Gurley is a current partner at San Francisco-based venture capital firm Benchmark and has also spent time as an engineer at Compaq Computer. He cited a report by Paragon that noted that home prices in the Bay Area have gone up by a head-spinning 97 percent since January 2000. If there is a collapse, he said, the tech industry may not be alone in feeling it – real estate could be along for the dubious ride since a drying-up of tech industry wealth could very well translate to a drop in property prices.
Does that mean it’s time to worry? Keep in mind that this is but one person’s opinion. That said, I would definitely advise you to stay tuned to our market reports to get the very latest in the industry when it comes to news and information that you can use. If the New York Times turns to us, you should too.
Dreaming of San Francisco? Cece Blase offers local advice to San Francisco buyers, sellers and owners– and feeds the dreams of those who wish they could live in Tony Bennett’s ‘City by the Bay.’ Call 415-577-0809 or email firstname.lastname@example.org. www.ceceblase.com