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Comment by prostoalex | Hacker News Reader

San Jose has been attracting all sorts of developers to build residential high-rises around downtown only to have them empty, with large banners "Selling Now! Prices Slashed!" hanging for years.

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Which has always been an interesting dichotomy. Peninsula cities that could benefit from more housing don't.

Sunnyvale has a bunch of apartments near the CalTrain station that will come online this year so that will be interesting.

Like which ones, in particular? The San Jose condo market looks pretty robust to me. There are a few high end condos that have been sitting on the market for a while, but at around $750/sq ft plus HOA fees, they might just be priced too high.

The reasonably priced inventory around in downtown San Jose has been snatched up. The lowest price place I could find on real estate sites that is within walking distance from the Caltrain station is a 429K 1 bed/1 bath in the Axis tower. The housing market has turned around very quickly in SV, most of the newer condos were built before the housing crash, and it was only recently that most of them have sold the original inventory.

Axis is still selling, and Residences 360 gave up on trying to sell and hired a property management company to convert them into leases.

its about efficiency. There simply isnt a demand for tech workers in san jose to fill the residential high rises.

(Also the hardware industry has gone down significantly in the past 20 years. san jose will never have the 70's and 80's again)

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