If California were a country, its economy would be the 10th largest in the world, pushing India into the #11 spot. California is the tech center of the world. Hugely successful companies like Apple, Google, FaceBook and Netflix proudly call it home. It’s also home to one of the largest state college systems in the United States. These all combine to make a hot real estate market.

More recently, the Wall Street Journal has pegged Oakland California as the next Silicon Valley. Uber, the taxi juggernaut valued at over $50B dollars, has recently purchased the Sears building and has announced that it will be home to the new corporate HQ.

Oakland is also just minutes from UC Berkeley, one of the top schools in the nation. It also situated directly on the San Francisco Bay and is home to the Oakland Raiders. Finally, it has a booming arts atmosphere: it’s home to the highest number of artists per capita in the entire United States.

It’s interesting to see how this market will pan out, especially with a large player like Uber moving in. Will companies like Uber set the precedent for smaller companies that can’t afford the high prices in classic Silicon Valley? Will the fact that Oakland is so close to a premier university also help its property values? Only time will tell.

• Silicon Valley