Google Commits $1 Billion to Bay Area Housing

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Posted To: MND NewsWire

If the rumors about housing in Silicon Valley are true, it is probably hard to recruit new employees if they fear they will have to live in an RV in WalMart’s parking lot. Such a situation may have prompted Google to announce a $1 billion commitment to help provide more affordable housing in its backyard. Google CEO Sundar Pichai announced the investment in a blog post on Tuesday, saying it is the company’s responsibility to be a good neighbor in the area where it originated 20 years ago and where it is one of the largest employers. Across the region, he said, “One issue stands out as particularly urgent and complex: housing. The lack of new supply, combined with the rising cost of living, has resulted in a severe shortage of affordable housing options for long-time middle and low income residents…(read more)

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