New multibillion-dollar affordable housing commitments from leading tech firms may build out thousands of units, but that's nothing next to California's gargantuan housing shortage.
"The cost of housing has caused people to flee one of the hottest job markets in the nation, in one of the most beautiful places on earth," writes Conor Dougherty of the Golden State's housing crisis.
This year, Google, Apple, and Facebook have all thrown in billions of investment dollars to address the shortage. Though laudable, those efforts alone probably won't make much of a difference. One reason is the absurdly high cost of subsidized housing. A single unit in California averages around $450,000, and that figure balloons even higher in the big metros, Dougherty reports.
"Given those figures, the $4.5 billion that Google, Apple and Facebook have earmarked would create about 10,000 housing units." But against the state's housing deficit of roughly 3.5 million units, that's a pittance.
FULL STORY: Why $4.5 Billion From Big Tech Won’t End California Housing Crisis
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Princeton Planning
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Houston-Galveston Area Council
HUD's Office of Policy Development and Research
HUD's Office of Policy Development and Research
HUD's Office of Policy Development and Research
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City of Lomita
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
