In a press release dated today, Apple announces its commitment to combating the housing crisis currently experiencing California. If the region is in crisis, it is because many companies from the technology sectors are setting up there, causing rental prices to explode. The populations with the least money are therefore forced to leave the place or, for some, to live on the street.
After Microsoft and Google, Apple's turn
Apple is dedicating a total of 2.5 billion dollars to fight this crisis, knowing that a billion will be spent on the development and creation of new housing intended for people with incomes ranging from very low to medium. Another billion will be dedicated to helping first-time buyers, including people working in the public sectors (veterans, teachers, etc.).
Land worth $300 million owned by Apple will also be made available to build new affordable housing.
Regarding this new commitment,Tim Cookconfides: “Before the world knew the name Silicon Valley and long before we had technology in our pockets, Apple considered this region its home, and we feel a deep civil responsibility to ensure that it remains a place dynamic place where people can live, raise families and contribute to the community. Affordable housing means stability and dignity, opportunity and pride. When these things are out of reach for too many people, we know the course we are on is unsustainable and Apple is committed to being part of the solution».
As a reminder, Microsoft has invested more than 500 million dollars for a similar project in the Seattle area, where Google has put 1 billion dollars on the table in San Francisco in the hope of tackling the problem.
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By : Keleops AG
