Google to invest $1bn to fight tech-fueled housing crisis

Funds to support development of 20,000 new homes as San Francisco Bay Area grapples with homelessness

Google will invest $1bn in housing throughout the San Francisco Bay Area, a region plagued by a housing and homelessness crisis that has in part been fueled by the tech industry.

The announcement comes as the tech giant prepares to expand beyond its headquarters in Mountain View and its offices in San Francisco to new campuses in San Jose and Sunnyvale. The $1bn would go toward supporting the development of 20,000 new homes over the course of 10 years, or roughly 68% of the number of units the Bay Area needs to build each year in order to meet population growth.