06/19/2019
https://techcrunch.com/2019/06/18/google-announces-1b-10-year-plan-to-add-thousands-of-homes-to-bay-area/
Well, I wonder which developers will take this on to transform Google offices to homes and find a way to get 15k units and exactly how many are affordable. Also, what does affordable mean to Google? Like, does $117k still qualify for low income 2) with the $250M, what incentives are there aside from regulations of inclusionary housing in certain cities?
Though I have seen a slow down in the market, many homes are advertising the Google purchases into San Jose as a benefit to buy and drive up the prices. That tells me home expect to appreciate and I am unsure what affordable will mean in 10 years.
My question is: With the tech companies expanding and hoping to bring in affordable housing, at what income level do they think affordability or low income qualification will be say in 10 years, if it is currently at $117,400 for a family of 4 or $82,000 for a single person?
Note: last year was at $105,350 for a family of 4. Also, ideally housing expenses should only be 1/3 of your income after taxes.
The housing crisis in the Bay Area, particularly in San Francisco, is a complex and controversial topic with no one-size-fits-all solution — but a check for a billion dollars is about as close as you're going to get, and Google has just announced it's writing one.
