Facebook just had a $5 billion initial public offering filing on Wednesday and some think it may effect California real estate. It is being compared to the 2004 public sharing of Google which made many people wealthy and now has stocks trading for $580 a share. Some real estate agents believe that just like with the Google public shares, Facebook's IPO will create wealth and furthermore cause the real estate market to rise. Google's public shares also created jobs which in return caused the company to purchase more land. Speculation is that Facebook's IPO could also create more jobs which could cause a spike in the local residential market.
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