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Bay Area Housing Playing Catch Up with Tech, Facebook CEO says

Oct 14, 2019 | Posted by Jeff Weil | Bay Area Housing, California Economics, Technology |

“Facebook CEO Mark Zuckerberg said during a publicly broadcast Q & A with employees that his company is looking elsewhere for growth because of the Bay Area’s housing and traffic issues. The infrastructure here is really tapped. Housing prices are way up. Traffic is bad.” “Facebook’s largest locations outside of the Bay Area are Seattle, Austin and New York City… other major cities where the company has offices include Los Angeles, Boston, Chicago, Denver and Washington D.C.” That philosophy makes total sense, and will actually benefit the Bay at least as we try to catch up to our housing and infrastructure shortages. We need to build one more Bart tunnel under the Bay, at least two more Transbay bridges, and hundreds of thousands of new residential units so big companies can take high housing prices and traffic to other areas and give the Bay Area a breather and chance to catch up and that can take decades!

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Tags: Bay Area Housingbloghousing shortageJeff Weiljeff.weil@colliers.comtechnology
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Jeffrey Weil, CCIM, MCR.h, SIOR

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  • jeff.weil@colliers.com
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