The Silicon Valley has been facing the massive crisis in the real estate due to the rapid growth of the rising value of homes. The rising cost of homes can get you in the midst of the affordability crisis. The social media site is getting to contribute housing efforts and also help to reduce the housing costs by providing catalyst housing funds to millions of people.
In addition to the housing related contribution Facebook is contributing 20 million dollars to increase the housing affordability. This amount will be added to the company’s massive contribution to reduce the affordability crisis.
The Skyrocketing Rates Get Influenced Rapidly in Real Estate
The shortage of housing has reached the crisis level of various social media firms. The growth of job creation in the industry needs new housing schemes. The current increment of rents and housing rates can afford wealthy to live near Silicon Valley.
Facebook has decided to contribute to the issues in direct or indirect ways. The company provides the facility of offering houses for the employees who resides nearby the location. Facebook also planned to add the below marketing rate housing to the employees.
The Dedicated Service of Social Media Supports the Tenants
The rapid home price is responsible for the affordability crisis in the real estate. The growing housing shortage will solve by Facebook who is planning to expand more campus in the area. It announced to raise funds against the job training program and also provides legal guidance to tenants in any kind of legal issues related to housing.
Government community in Silicon Valley has ensured to help moderate income families and also involved in the technology behemoths to solve the housing crunch. The campus expansion by Facebook is the plan to expand more housing community.
The Expansion of Housing Schemes with Best Rates
The coalitions of housing groups are participating with the contributing of Facebook campus expansion. The work of expansion will be done with the partnership with various real estate communities and the money can use for investing catalyst housing.
The renovating and rebuilding of the repairs of homes for low income homeowners will be in full sing with the contribution money. The promise also includes various job training in enormous fields included science, technology, engineering.
The company also pledged to offer millions of dollars to increase affordable homes. The housing prices are climbing high in the region and the low salaried employees has been facing housing crunches. The Silicon Valley employees have been criticised for the raising of the housing rates. Various other nonprofit organisations are also facing the soaring rents of the companies.
Partnership Includes Initial Help from Facebook
The Facebook is planning to get a partnership to help the severe housing affordability crises. Catalyst housing funds are introduced to provide affordable housing for the employees and the area. The partnership is the best platform to help the company to proceed further for a successful housing scheme.