Facebook Pledges $1 Billion to Address California Housing Crisis

Regular Member Posts : 7317 Join date : 2014-07-29

2 hours ago

Facebook pledges $1 billion to address California housing crisis
The facebook logo at its headquarters.

As a housing shortage afflicts portions of California, Facebook plans to spend $1 billion to build up to 20,000 new, affordable housing units, the Silicon Valley-based social media giant announced on Tuesday.

Facebook is the third tech company to make a financial commitment to help fix the housing crisis.
The problem is at least in part attributed to the growth of the technology industry and the resulting influx of workers.

Google, too, made a $1 billion Bay Area pledge in June, and Microsoft put $500 million toward building affordable housing in Seattle in January.

Posts : 2495 Join date : 2017-09-09

They've been throwing money at the problem for years and it's only gotten worse .. at least half those homeless people are junkies and/or alcoholics ...What California officials consider "affordable" is still way outta the price range of mosta them people as only a small fraction of them even have jobs

Any projects they build will be filled immediately with migrants on the HUD program, which is probably what they'll be built for ..and the taxpayers will be footing the bills for the rent

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