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Apple invests in California

This past week apple pledges 2.5 billion dollars to help aid in California's housing crisis. Apple is following suit after other tech giants like google and facebook. These tech giants call California home and were conceived in the golden state and have flourished ever since. However, the housing market has been flourishing in prices at an insane rate. Now in highly competitive areas such as San Francisco and some other parts of the bay area, if prospective home buyers are not willing to pay 20-40% above asking price with cash on-site they will most likely miss their opportunity to buy that property. It does not get any better for renters either, they have been struggling to find affordable housing for years now often because a majority of what is available is far out of their price range. The reason for the insane housing prices is because of the tech giants employees drive up prices due to supply and demand. The demand for housing is very high and the supply is quite low. The tech employees are able and willing to pay but the people who work at the restaurants, gas stations and gyms these wealthy employees go to are now forced to live far away.  Other citizens that are getting priced out of the market are forced to live far away and then have to super commute to work. The super commute is a commute longer than 90 minutes. Apple feels a sense of pride from having its roots in Cali but a sense of guilt as well for forcing its community out and is hoping to address the problem it helped create by funding low-income housing and other initiatives to combat the problem.

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