Facebook to build housing in Silicon Valley for first time
By David Ingram | SAN FRANCISCO
The shortage of housing in California's Silicon Valley has gotten so severe that Facebook Inc on Friday proposed taking homebuilding into its own hands for the first time with a plan to construct 1,500 units near its headquarters.
The growth of Facebook, Alphabet Inc's Google and other tech companies has strained neighborhoods in the San Francisco Bay area that were not prepared for an influx of tens of thousands of workers during the past decade. Home prices and commute times have risen.
http://www.reuters.com/article/us-facebook-housing-idUSKBN19S31V
