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Techies Priced Out of Palo Alto as Studios List for $1.3 Million

  • High earners unable to afford tech hub amid limited new supply
  • Mayor says runaway job growth is part of the problem
A home listed for sale in Palo Alto, on May 11, 2016.
Photographer: Michael Short/Bloomberg

When Andy and Amy Isaacson looked at buying a home in Palo Alto, California, for their expanding family, the least expensive one they could find was $1.5 million.

The couple and their three daughters instead moved to Omaha, Nebraska, where they have a $500,000 four-bedroom house with a sprawling backyard.