Apple on Monday announced a $2.5 billion plan to help address the housing crisis in California, becoming the latest tech giant in the state to address a problem that it helped cause. The plan includes $1 billion for an affordable housing investment fund and another $1 billion to help first-time home buyers find mortgages. Apple joins other Big Tech companies based in California seeking to ease the state’s severe housing crunch. Facebook said last month that it would give $1 billion in a package of grants and loans in California; in June, Google pledged $1 billion for a similar effort. Microsoft, which is based in Redmond, Wash., pledged $500 million toward affordable housing in Seattle in January.

Source: New York Times November 04, 2019 11:37 UTC