The housing shortage is so bad that not even Facebook is safe.
Silicon Valley housing shortage has become so severe that Facebook is considering building their own village to help ease the issue.
Despite the fact that they and the other big tech companies are actually the reason behind the shortage.
With Google, Apple, Facebook and other technology companies expanding in the area, this has put pressure and constraints on the infrastructure which was not built or prepared for such a fast and expansive growth spurt of tens of thousands of employees.
Previous solutions implemented to help ease the pressure on commuters and the actual commute, have merely ended up being a band aid and not really addressing the issue of supply and demand.
Enter on Facebook who is looking to build a “village” that will also have office space and retail space.
“Part of our vision is to create a neighborhood center that provides long-needed community services,” John Tenanes, Facebook’s vice president for global facilities, said in a statement.
The 1,500 Facebook housing units would be open to anyone, not just employees, and 15 percent of them would be offered at below market rates, the company said.
Facebook said it expects the review process to take two years.