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.Despite the (not quoted) headline they aren't going to "spend $2.5 billion" as much of this is just credit support.
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.