4 ms·
Google would not have considered constructing 15k homes had interest rates not been at historic lows. They're not in the construction or real estate business.
by brvsft 3y ago
Google would not have considered constructing 15k homes had interest rates not been at historic lows. They're not in the construction or real estate business.
And I fail to see what is absurd and obscene, except perhaps the inverse, that low interest rates caused such extreme market distortions that you have a massive company outside of the real estate industry looking into creating 15,000 homes. What is not absurd or obscene about that to you? We don't live in the company-town days any more (not that Google was trying to create a company-town, but they are, again, not in the real estate business).
- anon84873628 3y agoPrior to the pandemic, Google needed more office space, and it needed workers in the Bay Area. I don't view this plan as ever being about "getting into real estate". It was just a way to get cities to agree to office construction, and also ensure that workers were willing/able to live nearby. Anyway, given the amount of office space Google still owns and manages, they are very much "in real estate" in that regard...