Apple Pledges $2.5 Billion To Combat California's Housing Crisis

Feb 2011
19,309
14,311
The formerly great golden state
Apple Pledges $2.5 Billion To Combat California's Housing Crisis


Apple is pledging $2.5 billion to confront California's housing crisis, in a bid to help the state ease a situation that's been blamed for marginalizing people in service and support jobs and creating a spike in homelessness.
"The sky-high cost of housing — both for homeowners and renters — is the defining quality-of-life concern for millions of families across this state, one that can only be fixed by building more housing," Gov. Gavin Newsom said in a statement from Apple. "This partnership with Apple will allow the state of California to do just that."
This is something worth watching. I've often wondered where people who wait tables or tend bar live in areas where housing prices start at a million and go up from there.
 
Feb 2011
19,309
14,311
The formerly great golden state
They should just pack up and move to Texas. Everyone else is. What a waste of money.
Lots of people could do it if they wanted to live in Texas. Sell that two million dollar house on the coast, and they could move to Texas and retire. If More people wanted to live in Texas, maybe California's 40 million population would drop a bit.
 
Nov 2008
65,557
5,237
Washington state
Simple solution move out of California. Apple and other tech companies caused the inflation of the cost of housing


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HayJenn

Former Staff
Jul 2014
72,651
63,975
CA
Simple solution move out of California. Apple and other tech companies caused the inflation of the cost of housing


Sent from my iPhone using Tapatalk
It's not just in Silicon Valley

It's a problem in all the major metro areas.

There are still a lot of areas in CA that are "affordable", but they are not near "big cities".
 
Mar 2012
59,991
41,456
New Hampshire
Is there much room left for building new places? Plus if its anything like the Boston area, those wealthy who own homes refuse to allow affordable houses anywhere near their homes for fear it will hurt their value. So they put them 30 miles away.
 
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Jun 2014
64,781
39,650
Cleveland, Ohio
Is there much room left for building new places? Plus if its anything like the Boston area, those wealthy who own homes refuse to allow affordable houses anywhere near their homes for fear it will hurt their value. So they put them 30 miles away.
SF has the same problem as NYC: built on a peninsula-ish parcel of land. They can't push out, like LA can.
 
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Feb 2011
19,309
14,311
The formerly great golden state
Is there much room left for building new places? Plus if its anything like the Boston area, those wealthy who own homes refuse to allow affordable houses anywhere near their homes for fear it will hurt their value. So they put them 30 miles away.
There is lots of empty land in California. The issues are (1) water, and (2) the NIMBY ism you describe. Whether a private/public alliance such as described in the OP can overcome those issues remains to be seen.
 
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Mar 2012
59,991
41,456
New Hampshire
There is lots of empty land in California. The issues are (1) water, and (2) the NIMBY ism you describe. Whether a private/public alliance such as described in the OP can overcome those issues remains to be seen.
In the Boston area, some big companies tried something similar but failed due to the NIMBY aspect. But they kept trying because the companies got tax breaks for it even if it failed. It made them look good for at least trying even though some knew they would fail.