California housing becomes unaffordable for many due to rising prices

Global Business

A ‘crisis’ has been declared in the U.S. state of California – where many are struggling to buy a home.

The median price of a place to live has now hit $500,000 – and it’s forcing some people, who still earn good salaries, onto the streets as rents rise.

CGTN’s Phil Lavelle reports.

Silicon Valley moves into construction to stop a brain drain

Silicon Valley: home of the western world’s tech industry. People there are worried that talent may be about to leave because house prices have shot through the roof.

CGTN’s Phil Lavelle reports.

San Francisco has some of the world’s most expensive rents. And the area around Facebook’s headquarters is so pricey, some employees asked founder Mark Zuckerberg to help pay their rent.