Which came first? Was it the chicken or the egg?
Google’s high paid employees can’t afford rents on their high salary because other higher paid Google employees bid up the prices of rent and real estate? So Google is going to build apartments especially for their employees? And this isn’t just a Google issue, substitute any company in the bay area, Los Angeles, Silicon Valley and you have the same issue.
High demand = increasing prices. Increasing prices = no affordable homes. If you were the landlord you would raise the rent to the market value too.
What’s the solution? Set up offices in Oregon, Texas or Washington State? So now you have tech employees with salaries higher than the norm for the area and they don’t mind paying a little extra because it’s chump change when compared to LA/Silicon Valley. If you are looking at spending a million on a house in California and you move to Portland and see an amazing home for $400k, do you think throwing an extra $50k in your offer is going to make you bat an eye? Hell No. That’s why people in Portland hate people from California Moving up there. We bid up the prices and now it’s no longer affordable for the people that live there.