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In Palo Alto, Space for a King-Sized Mattress Costs More than $80,000

  • Most expensive real estate by square foot on west coast
  • Only two non-Palo Alto neighborhoods are among the top 10
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“A dollar today isn’t what it used to be, particularly when it comes to real estate,” says Senior Economist Aaron Terrazas in a recent report from Zillow Research.

The Zillow report looks at how much real estate one dollar can buy in square inches. At the national level, the report found one dollar can buy 1.07 square inches of the average home, down from 1.23 square inches a year ago, and 2.09 square inches in 1998. But location matters -- so while one dollar buys a little more than one square inch nationally, it buys only about 40 percent of an square inch in New York or Los Angeles.