As many of us know, there is a shorting of housing in Silicon Valley, CA. The influx of tech companies/startups have extremely inflated the home prices in Silicon Valley. Recently, Facebook has planned to create 1500 housing units near their currently under construction headquarters. These houses will be open to purchase for anybody (not just FB employees) and will be offered at below market price. In addition, Facebook has created a $10k incentive to anyone who relocated closer to their new headquarters. Source
- What do you think of this play? Waste of money? I would definitely move a couple blocks over for $10K and to be closer to work
idk man - how do below market rate units help anyone that makes 100k at one of these 'tech' companies? In my town, their below market rate program says you cannot make more than like $50k 1 person to qualify for their program. If you Fart at FB you will make $50k. Sure these programs are great for people who make nothing, but for 95% of everyone else that makes more than $50k but not $200k min, your still fucked.
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