The move comes with Silicon Valley firms under pressure over the spike in real-estate prices, lack of affordable housing and growing homeless problem in the San Francisco Bay Area. Google had previously invested in housing in areas where it has operations, Pichai said. “Today we’re announcing an additional US$1 billion investment in housing across the Bay Area,” Pichai said in a blog post. “We hope this plays a role in addressing the chronic shortage of affordable housing options for long-time middle and low-income residents.”Google also pledged a US$250 million investment fund providing incentives to build at least 5,000 affordable housing units across the market. Microsoft Corp, based in Seattle, has pledged US$500 million for a similar initiative.
Source: Taipei Times June 19, 2019 16:05 UTC