Apple Pledges More Than $400 Million Towards Affordable Housing Initiatives in California This Year
Apple today announced that it is allocating more than $400 million toward affordable housing projects and homeowner assistance programs in California this year, as part of the company's multiyear $2.5 billion commitment to combat the housing crisis in the state.
Apple says the funding will support thousands of Californians with first-time homebuyer assistance or new affordable housing units.
In November 2019, Apple committed $2.5 billion to combat the housing crisis in California across a series of initiatives over several years, including:
- A $1 billion affordable housing investment fund with the state of California.
- A $1 billion first-time homebuyer mortgage assistance fund, with increased funding opportunities for essential services personnel, school employees, and veterans.
- $300 million in Apple-owned land made available for affordable housing.
- A $150 million Bay Area housing fund, in public-private partnership with Housing Trust Silicon Valley.
- $50 million to support Destination: Home's efforts to address homelessness in Silicon Valley.
"As cities and states have been forced to pause many of their long-term affordable housing investments amidst the current public health crisis, Apple is proud to continue moving forward with our comprehensive plan to combat the housing crisis in California," said Kristina Raspe, Apple's vice president for Global Real Estate and Facilities.
Popular Stories
Phishing attacks taking advantage of Apple's password reset feature have become increasingly common, according to a report from KrebsOnSecurity. Multiple Apple users have been targeted in an attack that bombards them with an endless stream of notifications or multi-factor authentication (MFA) messages in an attempt to cause panic so they'll respond favorably to social engineering. An...
At least some Apple software engineers continue to believe that iOS 18 will be the "biggest" update in the iPhone's history, according to Bloomberg's Mark Gurman. Below, we recap rumored features and changes for the iPhone. "The iOS 18 update is expected to be the most ambitious overhaul of the iPhone's software in its history, according to people working on the upgrade," wrote Gurman, in a r...
Apple today announced that its 35th annual Worldwide Developers Conference is set to take place from Monday, June 10 to Friday, June 14. As with WWDC events since 2020, WWDC 2024 will be an online event that is open to all developers at no cost. Subscribe to the MacRumors YouTube channel for more videos. WWDC 2024 will include online sessions and labs so that developers can learn about new...
Apple may be planning to add support for "custom routes" in Apple Maps in iOS 18, according to code reviewed by MacRumors. Apple Maps does not currently offer a way to input self-selected routes, with Maps users limited to Apple's pre-selected options, but that may change in iOS 18. Apple has pushed an iOS 18 file to its maps backend labeled "CustomRouteCreation." While not much is revealed...
Apple on late Tuesday released revised versions of iOS 17.4.1 and iPadOS 17.4.1 with an updated build number of 21E237, according to MacRumors contributor Aaron Perris. The updates previously had a build number of 21E236. The revised updates are available for all iPhone and iPad models that are compatible with iOS 17 and iPadOS 17, but they can only be installed via the Finder app on macOS...
With the App Store and app ecosystem undergoing major changes in the European Union, The Wall Street Journal today shared a profile on App Store chief Phil Schiller, who is responsible for the App Store. Though Schiller transitioned from marketing chief to "Apple Fellow" in 2020 to take a step back from Apple and spend more time on personal projects and friends, he is reportedly working...
Apple will introduce new iPad Pro and iPad Air models in early May, according to Bloomberg's Mark Gurman. Gurman previously suggested the new iPads would come out in March, and then April, but the timeline has been pushed back once again. Subscribe to the MacRumors YouTube channel for more videos. Apple is working on updates to both the iPad Pro and iPad Air models. The iPad Pro models will...
Images comparing purportedly accurate dummy models of the iPhone 16 series have been shared online, providing a closer look at the rumored design of the upcoming devices. The iPhone 16 Pro and iPhone 16 Pro Max are expected to get larger display sizes this year, according to multiple sources, while the iPhone 16 and iPhone 16 Plus will be the same size as the iPhone 15 and iPhone 15 Plus. ...
Top Rated Comments
There are also a few issues that come to light that aren't being addressed by this action:
* Continued construction of suburb-style developments versus walkable towns and villages
* Influx of residents to California as a desirable location to live
* Lack of effective public policies in the state of California to address these issues (Prop-13, etc.)
CA has had a net loss of tax payers over the years, but has increased taxes every year to cover CA’s ever growing budget demands. So the tax burden per resident is becoming untenable.
CA claims to have budget surpluses, but their unfunded liabilities are insane.
Then you have housing costs. CA severely limits construction of new housing. This drives prices of existing houses through the roof. People buying houses via two mortgages is pretty common. Anywhere relatively close to the coast in So Cal and you’re looking at $750k+ for a 1,200 Sqft. 2 bedroom house. Go north and it isn’t any better.
I love going to CA. Used to take 3-4 vacations a year there. It’s like my second home. Pacific Grove is fantastic. But I’ll never live there. Too expensive.
We have a running joke about PG. You can’t buy a 900 Sqft lean-too for less than a million. We’ve met many people that have lived there for decades. Paid $50k-$60k for their houses back in the late 70’s that are now wroth $4-$5 million.
No new construction permits are issued. The land is there, but only remodel permits of existing property are issued and those take a year plus to get approved.
Money alone isn’t going to solve it, and if CA government is involved, most of the money will get directed to some politicians “preferred vendor” or get eaten up by “administrative fees”.
these look appealing to me at almost 40... Much better than a typical apartment. Doubt they will be anything like this these look expensive.