For those outside Silicon Valley why might think, "you could live like a king with that kind of money", here is a potential home you are looking at ($2M, 1200 sqft, 7 rated schools): https://www.redfin.com/CA/Palo-Alto/3785-Park-Blvd-94306/hom...
https://www.redfin.com/CA/Orinda/28-Tara-Rd-94563/home/19147...
you know, people who are not highly trained professionals with advanced degrees but who are still required to make up a community. (bakers, school teachers, nurses, technical craftsman, caretakers etc).
It is my understanding that those people make signficantly less money (more on the "standard" level most western-europeans make. say 30kEUR a year), But where do these people live?!
Or just far away with long, miserable commutes.
$2.7M for a 100x50 lot and a 4 bedroom? That's mansion money pretty much anywhere. Hell you can even get a nice place in NY for that much.