Thursday, 25 May 2017

Hobbits, iPhones and FOMO: Housing news 8.1.16

Written by Posted On Monday, 01 August 2016 16:22
Hobbits, iPhones and FOMO Redefy Real Estate Housing News 8.1.16 FB headquarters via BuildZoom
Facebook's $269 million Hobbit-esque expansion in the foreground with it's original campus in the background. Image: BuildZoom.

Redefy's housing news 8.1.16: Facebook to build housing around Hobbit-esque headquarters, a new kind of home will be built "iPhone-style", FOMO motivates buyers, and an economist weighs in on the shifting home market.

Facebook becomes a housing developer

Facebook has faced a lot of public outcry regarding its enormous new expansion (dubbed the “Hobbit Walmart” for its box-under-the-ground look) and the lack of affordable surrounding housing in Menlo Park, CA. Their solution? Building housing, says Curbed. Well, developing it at least.

Facebook hopes to plan and design 1,500 units (they’ll be above ground, so don’t get excited Tolkien lovers) around its Hobbit-esque headquarters. Unlike other companies that build housing for their employees, Facebook will open them to the public and set aside 255 as affordable housing.

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Redefy is a full-service real estate brokerage committed to returning value to customers through superior service and flat fee listings. Redefy Real Estate was named a finalist for the 2015 Most Innovative Real Estate Company of the Year award by Inman, the industry’s leading source of real estate information. For additional information about Redefy, visit redefy.com.

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