News and Commentary
An op-ed in The New York Times directly rebuts the claims made by Bernie Sanders on the affordability crisis in the Bay Area–specifically that Big Tech is responsible for sky-high prices. While it is certainly true that the concentration of high-paying jobs puts upward pressure on housing prices, a lack of supply is causing this upward pressure to lead to sky-high housing costs.
In opposition to this view, Dain Evans writes in CNBC about how despite big tech’s significant investments in new housing construction, the crisis is primarily their fault. This argument is particularly curious considering that Evans mentions how housing construction has failed to keep up with population growth.
Speaking of tech and housing, in exchange for more space for Amazon’s HQ2 in Arlington, Virginia, Amazon has agreed to give $20 million to Arlington County’s affordable housing investment fund.
Washington, DC has approved a long-term housing project (permanent supportive housing, or PSH) for homeless residents, with a $3.1 million rental that will cover most of the rent and utilities for those that are homeless or otherwise couldn’t afford rental payments. Predictably, opponents to the project decried the lack of public input.