FB also put in 1Billion recently. Can someone with good study of economics & knowledge on these initiatives evaluate how this will impact the average homebuyer. Decreased housing prices? More people moving to Cali? Less homelessness? Not enough money to make a big impact? No impact on high income software engineers? https://techcrunch.com/2019/11/04/apple-commits-2-5-billion-to-address-californias-housing-crisis-and-homelessness-issues/
They will spend 1B subsidizing mortgages. This should inflate house prices further. Am I missing something? You can also imagine what this does to the traffic...
oh yeah it seems a significant portion is helping first time homebuyers & financing. I thought it was mostly real estate development 😢
I even wonder where this money goes into. I don’t see any new development by these tech giants except for their offices. Maybe trying to please some local officials
Not allowed to build in most communities
This is basically applying bandaid without fixing the core issues.
Remember when Zuck gave $100M to New Jersey for education and it was a massive failure?
no 🤔 teach me oh wise one
Only part that will impact anywhere here is apple's first time buyers program which means more buyers :)
Why not just pay your taxes?
It’s a pr move. It’s not supposed to have any impact other than the company image
There will be more apartments/condos built for low income housing, which should have a minuscule, if any, effect on the main housing market here. Thousands of units is non trivial but not ground breaking (3k jobs were added in South Bay in May alone). There will likely be a bit more traffic. As mentioned above there isn’t much room left to develop, which is why Apple and Google are giving up their land as part of the deal!
Hahahahahahahahahahahahaha 🤣🤣🤣