The presence of high tech companies has made parts of California unaffordable for many of its residents, creating a severe housing crisis. But Apple Inc. is one tech giant that's putting in serious money to ameliorate the problem.
Recently, it announced that it's allocating more than $400 million for affordable housing projects and homeowner assistance programs, as part of the $2.5 billion commitment it made in November 2019 to address the housing shortage. The allocation will support first-time homebuyers and fund new affordable housing units for some of the state's most vulnerable populations.
Apple is partnering with various groups in this endeavor, including Housing Trust Silicon Valley, California Housing Finance Agency (CalHFA) and Destination: Home.
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