Apple announced Monday that it is allocating $400 million toward affordable housing and homeowner assistance programs in California this year, as part of the $2.5 billion commitment announced in November. From a report: The housing crisis has worsened in the wake of the coronavirus pandemic, forcing states and cities to pause spending on affordable housing projects. Big Tech’s wealth has been blamed by some for driving up housing prices in the San Francisco Bay Area and making it unaffordable for teachers, firefighters and other workers who support the region. Apple, along with Facebook, Google and Microsoft, committed a collective $5 billion to support affordable housing initiatives, but it ran into the reality that money alone can’t solve the problem without changes to zoning and financing restrictions.

Read more of this story at Slashdot.

Source: Slashdot – Apple Puts 0 Million Toward Affordable Housing