Apple to invest $2.5 billion to solve the housing crisis in California.
Apple to invest $2.5 billion to solve th California
California, United States Of America
Apple has announced a financial package worth $2.5 Billion. The package announced will be in light to solve the housing crisis that pertains to California. The housing crisis has increased in the past few years due to the rapid growth of tech companies in the state. The tech company has announced a five-point plan. The significant points of the five-point program involve $1 billion in an affordable housing investment fund and another $1 billion in mortgage assistance for people buying homes for the first time. Apple will also open land owned by itself, valued around $300 million for housing developments.
San Francisco housing fund will receive $200 million. Some of the funds will also be used to supports the weak populations of the state. An estimated number of 7000 people are homeless in San Francisco. The middle class and lower class people are also suffering due to the shortage of affordable housing in the state.