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Posted on 10/23/2019 7:57:31 PM PDT by yesthatjallen
Facebook is the latest tech company to try to fix California's housing woes. On Tuesday, the social media giant announced that it would invest $1 billion to spur the construction of 20,000 new housing units in Silicon Valley and the San Francisco Bay Area.
"In San Francisco, a family of four making over $100,000 per year is considered low-income," wrote Facebook CFO David Wehner in a blog post, saying that developing new affordable housing required a partnership of "companies, communities, non-profit organizations, and policymakers statewide."
The announcement received a glowing endorsement from California Gov. Gavin Newsom (D), who said in a statement that "state government cannot solve housing affordability alone, we need others to join Facebook in stepping up." Google announced its own $1 billion housing initiative in June, which also promises to deliver 20,000 new units.
As with Google's plan, however, Facebook's investment will require a lot more money from other groups in order to make its 20,000-unit goal a reality. That's because the state and local regulations that have created California's housing crisis could stymie both companies' efforts.
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(Excerpt) Read more at reason.com ...
Well I hope they make their rooms comfey as I am in FB jail again. Don’t know what I did.
...or they could try the free market...
If Facebook has so much money, they should spend a little to prevent stolen ID’s in Facebook.
Why? They will all be under water in 11.5 years.
Wait, WAIT what about the spotted owl, the delta river smelt and the three toed salamander? HOW DARE YOUUUUUUUUUUU
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Liberals wasting their money, pouring it down the liberal hole.
Good.
50k per housing unit? Obviously that doesn’t cover the cost of the land. Then who pays the property taxes? Also, at $150/sq ft, that gives you a 333 sq ft housing unit.
Now if they look at a Motel 6 multi story building type, they might build 10,000 housing units. But not much more than a efficiency apartment.
Move headquarter to somewhere else. New york is a good place.
You’re right. What does it all have to be in the Bay Area?
Fake book faggots. Are complete losers. Screw them and all their money they did not earn
- just a contractor in ca
There should be a shareholder lawsuit, but shareholders are likely too stoned to do it.
With Replacement Migration,
the workers become renters for the big landowners.
Latisfundia.
Just like Rome.
And Facebook? Try fake-likes bot farm:
https://twitter.com/AshleyW838/status/1187083741304369159
They just wanna look like they wanna change the status quo.
If Facebook was serious, its target would be Sacramento.
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