Sam Shueh
Affordable housing in Silicon Valley and San Francisco Bay area is really short of housing for the plentiful high income jobs offered. I get calls many from out of North America coming for intern positions. They give an allowance of several $1000 for a 3 month stunt. I am surprised they come from Switzerland, Finland, as well as many eastern second or third tier schools. Many professional positions are offered 1 year before graduation. Many employers pay 6 figures with 3 year engineering schools not from top school. Even Google is relaxed on school or visa requirements as there are just so many grads are attending computer science, or engineering studies.
The earlier projection was City of San Jose, CA will have 102,774 new cluster housings with 174,210 new jobs created between 2011-2015.
The reality is City will permit only 82,200 housings while actual new jobs created is 548,200 per Bay Area planning agencies.
To make sure I can see these positions are actually posted. Apple has needs for 808 hardware engineers, 971 software programmers. Furthermore, local offices has needs for a few 100 positions not filled. I am not talking about those selling at Apple stores. Rather I refer to those with a college degree or work experience with an annual income of 6 figures. I had a renter in sales who have a combined income of $500,000 with bonus. I declined them because their credit score is just 600s. With Apple many positions were posted in 2015 and some were dated in 2014. I prefer a tenant who needs a housing.
Tesla has an operation in Palo Alto and Fremont. There are several 100 positions in each location. Tesla gives a discount if an employee makes a car purchase. Few will be able to afford it with the high cost of local housing cost.
As for Google, there are so many openings that it is hard to count endless list of position and skills needed. I have found housings to two consider themselves are lucky. All twenty something. Bright kids.
Like San Francisco, City of San Jose is conducting hearings wanting to control rent proposing additional taxes on landlords who has over 1 rental. The real reason is overhire more staff to monitor or control rent increases.
Why Coyote Valley proposed for Apple, HP then Cisco are turned down. The cleanest power station is not firing up due to lack of industries near by. We
need people who can create more housings to support our local economic growth!
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Sam Shueh Realtor
I've called San Francisco South Bay home for over 37 years. We love this area and all it has to offer, and I enjoy sharing what I know about homes. I documented in several books about Silicon Valley history. I have much expertise in real estate...please give me a call. Silicon Valley Realtor Sam Website (Four-O-Eight) 425-1601
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