Where big American computer companies go, high house prices are sure to follow. That's why Silicon Valley is one of the most expensive places to live in the US, with house prices there having tripled over the last five years. Just as they have done in Dublin. One solution? Subsidized housing for teachers. Leading the way are Intel and the Santa Clara Unified School District. Santa Clara County is a place that can't keep its teachers, it seems. Over 24 have left the area in the last year because they can't afford to live there.
A typical teacher's wage is just under $40,000, but small family homes now cost from $500,000. Sound familiar? The District wants to build a 40-unit apartment complex at a vacant school and local computer giant Intel wants to help teachers buy homes by helping the District loan them $500 a month interest-free for five years towards mortgage repayments. For God's sake, don't tell the INTO.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/6BDEAESQEJH4BHNFRSVZH3W4TM.png)