Housing Shortage Catches Google’s Eye

June 14, 2017 Aly J. Yale

Housing inventory is so limited, even Google has taken notice. On Wednesday, the technology giant announced its own efforts to alleviate the ever-tight (and ever-expensive) housing market of Silicon Valley through an investment in modular housing. The company will purchase 300 modular home units from startup Factory OS, a deal Factory’s CEO says is worth $25 to $30 million. Housing prices in Google’s home base San Francisco have risen nearly 100 percent since 2009, and inventory has been dropping steadily over the past year, driving demand—and prices—even higher. Year-to-date, home prices in the city have appreciated 5 percent—the second-most of all major U.S. markets.

The post Housing Shortage Catches Google’s Eye appeared first on theMReport.com.

Previous Article
Report Says Half of Homebuyers Aren’t Mortgage Knowledgeable
Report Says Half of Homebuyers Aren’t Mortgage Knowledgeable

When it comes to homeownership, things can get confusing. It was recently reported that almost half of home...

Next Article
FOMC Hikes Interest Rates; Will Mortgage Rates Follow?
FOMC Hikes Interest Rates; Will Mortgage Rates Follow?

The Fed has voted for the second time this year to raise interest rates, a decision that was hinted at back...