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I think this is why Facebook wants to build their own complexes. If they buy the land themselves, they could achieve increasing housing units on one hand, and
by conanbatt 6y ago
I think this is why Facebook wants to build their own complexes.
If they buy the land themselves, they could achieve increasing housing units on one hand, and also provide housing as a benefit which means going around the 50% tax bracket for their employees.
- toast0 6y agoDisclosure: I worked at Facebook. You do not want your landlord and your employer to be the same. (Unless you're a live in manager of the property, then it's more likely to make sense). For one thing, it makes looking for another job much harder, because you'll presumably have to move as well. For another, because an employee that lives at the employer's housing may never interact with people who aren't employees, and end up even more disconnected from the community at large. It may make sense for Facebook (or others) to put their money to work increasing housing supply by building denser housing, or by financing such building, but they need to divest as soon as practical. If the issue is employees can't live near work, because housing is too expensive, increasing the supply near work should help with that, even if you don't restrict the new units to employees.