ALBAWABA - In the latest from Silicon Valley, unaffordable housing along with a high-tech buyer base has conceived a new type of property listing; one where you can pay with stocks instead of cash.
The 232m2 three-story house containing three bedrooms and two baths is priced at $2,955,000 which is considered modest by San Francisco standards.
The ability to buy such properties with stocks instead of cash has brought on a real estate boom in the high-tech Bay Area where many tech companies have their headquarters - allowing their stock-heavy but cash-poor employees to own homes without paying a single cent.
Rachel Swann, the listing agent, said that her phone has been “blowing up” with questions about the listing. “It seems to be something that’s very exciting for people.” She added.
The listing notes that it would take stocks from OpenAI and Anthropic, two of the leading start-ups in the AI tech industry. These start-ups, as they’re called, are valued at $852 billion and $965 billion respectively.
The listing agent further added that the seller is a tech developer who believes strongly in both start-ups, and that the idea came to them from seeing many OpenAI and Anthropic employees looking for houses in the tight Bay Area housing market.
