October 4, 2015
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The housing shortage in Silicon Valley has employers like Google, LinkedIn, and Facebook paying attention. The tech giants have all dipped their toes into residential development—some with a focus on serving low- and moderate-income workers. While Santa Clara and San Mateo counties have been adding jobs and population at a rapid clip, new housing starts have not kept pace. As a result, the average rent is now above $2,000 per month and the median home price of $757,585 is nearly twice the median price for the state—and approaching that seen during the area’s housing bubble peak, according to Silicon Valley Indicators. Read the rest of the article.
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