Tech workers who live in San Francisco and commute to work in Silicon Valley have been blamed for driving up rents in the area and causing congestion on local transportation corridors. Facebook is now offering payments of $10,000 and up to workers who relocate to within 10 miles of its main campus. However, there are concerns that residents in nearby communities — East Palo Alto, Menlo Park and Redwood City, for instance — will be threatened by the announcement, as they will find themselves competing for housing with well-paid Facebook workers. The policy may add to tension in the region about the surge in housing prices and the lack of housing available in the area due to the dominant presence of tech companies.
Wednesday, February 3, 2016
Facebook’s 10-Mile, $10,000 Solution to Housing and Long Commutes
Source: KQED
Tech workers who live in San Francisco and commute to work in Silicon Valley have been blamed for driving up rents in the area and causing congestion on local transportation corridors. Facebook is now offering payments of $10,000 and up to workers who relocate to within 10 miles of its main campus. However, there are concerns that residents in nearby communities — East Palo Alto, Menlo Park and Redwood City, for instance — will be threatened by the announcement, as they will find themselves competing for housing with well-paid Facebook workers. The policy may add to tension in the region about the surge in housing prices and the lack of housing available in the area due to the dominant presence of tech companies.
Tech workers who live in San Francisco and commute to work in Silicon Valley have been blamed for driving up rents in the area and causing congestion on local transportation corridors. Facebook is now offering payments of $10,000 and up to workers who relocate to within 10 miles of its main campus. However, there are concerns that residents in nearby communities — East Palo Alto, Menlo Park and Redwood City, for instance — will be threatened by the announcement, as they will find themselves competing for housing with well-paid Facebook workers. The policy may add to tension in the region about the surge in housing prices and the lack of housing available in the area due to the dominant presence of tech companies.
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