Monday, November 04, 2019

60s Futurism

The housing situation in California is too complicated even for the margins of this blog post, but Steve Jobs built a big round suburban office park with 14,000 parking spots not near transit and whatever precisely led to that, it's pretty hard to unshit that bed.
New York (CNN Business)Apple announced a $2.5 billion financial package to help address the housing crisis in California, which has worsened in part because of the rapid growth of tech companies.

The company laid out a five-point plan, including $1 billion for an affordable housing investment fund, $1 billion in mortgage assistance for first-time home buyers and opening some Apple-owned land valued at $300 million for development. The remaining $200 million will go toward a San Francisco housing fund and to support vulnerable populations.
In San Francisco, roughly 7,000 people are homeless. There is a shortage of affordable homes across the Bay Area, which is pushing out middle and low-income workers like teachers and restaurant employees. Critics say the influx of tech companies and their well-paid workers has contributed to the ongoing housing crisis.
Despite the (not quoted) headline they aren't going to "spend $2.5 billion" as much of this is just credit support.