There is a lot of disagreement in modern America, leaving everyone feeling forced to choose a side on any given issue. However, one topic that everyone agrees on is that Silicon Valley is in the midst of a housing crisis. Real estate prices are skyrocketing at alarming rates, forcing many to leave the area in search of more affordable locations. Where did all this turmoil start, though? Presidential hopeful Bernie Sanders points the finger at tech giants like Apple.
Apple Tries to Fix Bay Area Housing Crisis; Sanders Not Impressed
Big Tech interests in the Bay Area are doing their best to fix the growing housing crisis in the region. Apple has committed to $2.5 billion toward increasing the supply of affordable housing in California. Despite this seemingly generous offer, independent Vermont Senator Bernie Sanders is not so impressed. In Sanders’ opinion, “Apple’s announcement that it is entering the real estate lending business is an effort to distract from the fact that it has helped create California’s housing crisis.”
Is Apple to Blame for the California Housing Crisis?
While Senator Sanders’ statements are great at making headlines, are companies like Apple, Facebook, Microsoft, and Google really to blame for this housing crisis? Yes, they have brought in thousands of high-paying jobs to the Bay Area, which drove up home prices as a result, but is the crisis really their fault? Others are blaming Democratic California Governor Gavin Newsom for not acting quickly enough on his rent control provisions law, which would prevent landlords from preemptively raising rent prices. Whichever party you choose to blame, the problem may not go away anytime soon. Below is what you can do to help yourself.
Stop Blaming and Start Acting
The United States is full of affordable real estate, but you need to know where to look. Use Propy’s Transaction Platform to complete your real estate transaction. There are several options on the market, but only Propy speeds time to closing while simultaneously resolving some of the long-standing security issues.