Apple: We're going to use this small amount from our reserves to help solve a growing social crisis.
Shareholder: That could be a 10 cent dividend for MEEEEEEEEEEEE!!!
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Apple Commits $2.5 Billion to Fight California Housing Crisis
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Shareholder: That could be a 10 cent dividend for MEEEEEEEEEEEE!!!
Don't you think that if employee's pay rises to match that of rents, the cost of rent will rise further?
If the root problem is lack of housing, nothing is going to help the issue except tackling the core problem head on - and that is building more accommodation. Anything else is just dancing around the issue.
There's a vast difference... night and day. Apples and Oranges.
If the root problem is lack of housing, nothing is going to help the issue except tackling the core problem head on - and that is building more accommodation. Anything else is just dancing around the issue.
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There's a vast difference... night and day. Apples and Oranges.
When Seattle had to close all but one lane of I-5 northbound into the city a few years ago to fix expansion joints, the ultimate carmegeddon was predicted. City, county and private industries all planned for employees to work remotely (primarily) and adjust schedules. Amazingly traffic was lighter than normal during this time. Recent studies have shown that remote workers can out-produce those at offices. Rather than commit billions to try to solve a housing problem created by CA's and SF's policies, Apple would have a much greater impact committing to finding/proving how optimizing remote work solutions. The housing crisis exists because of dinosaur beliefs that everyone has to commute to the mother spaceships each day.
Hmm, Apple actually doing something good for humanity with that big pile of cash. There might be hope after all.
The homeless problem did not arise because of a lack of funds. It’s a symptom of policy errors. So Apple’s helping hand isn’t going to address anything. It’s like treating the fever without treating the underlying cancer.
No, the problem with lowering house prices is that it would be bad news for everyone that currently owns more than one house (or has property-backed investments), has used the equity on their house to borrow money for other things.
The majority of people who own a house need it to live in and, if they sell it, will need the money to buy another house. Even if they die and leave the house to their children, a major use of that money is to buy a house or pay off a mortgage.
The flaw there is the one-sided way mortgages work, allowing the banks to rake in interest while the householder bears most of the risk of a property price fall - which leaves them free to promote irresponsible house price inflation by lending more money (oh, and then making even more money by making loans to home owners based on their growing equity). That's bad even without the sort of insane money games that triggered the banking crisis. In that case, house prices crashed across the board mainly because the banks panicked and stopped lending money.
You cure the housing crisis by increasing the supply of houses or reducing the demand by making rental more attractive (which it won't be when even the landlords don't own their property and expect tenants to pay their mortgage for them plus a profit margin). Or price control (but that's a can of worms). Helping people get mortgages is just throwing more fuel on the fire by driving up prices.
They should just change building-code there to be able build high-rises.
But Americans like their sprawl - even if it means hours of commuting.
But Americans like their sprawl - even if it means hours of commuting.
When are people going to realize California doesn't have a housing crisis IT HAS A DRUG CRISIS. Gavin Newsom is an incompetent hack.
Those of us in Michigan know how 'well' the revitalize Detroit project is going. HAH
Those of us in Michigan know how 'well' the revitalize Detroit project is going. HAH
Look at Gavin Newsom.
Is this a male model photo shoot?
His hair is perfect.
Psychopath.
This is awesome of Apple to do this, but California is a not a responsible state with money, they have plenty of it and squander billions on programs Californians don't need.
US states competiting for companies with tax breaks and incentives is absolutly absurd practice. In Europe any form of state aid through ad hoc tax allowances, deductions or credits is forbidden so that a state cant offer tax breaks and incentives to a specific company, but rather to everyone in order to be legal. This way, companies invest where it most make sense from a business perspective and not from a pure tax point of view. Currently, big tech companies are blackmailing state governments to reduce their tax burden or they would move their offices to anther state which in turns offers heavy tax break to attract such company. At the end, this company is not paying any taxes regardless of its location.
I look forward to the day when we have a real government of the American people and the NSA discovers your comment and you get the knock at the door and ten years in a work camp for being a "Bloodsucking Enemy of the People".
WORK MAKES YOU FREE
How much is Newsom spending on illegal aliens and for what purposes. Be precise.
Uh, what.
A company getting a tax break in return for settling on a particular town is common (and problematic) practice in Germany.
Do you have room in your home? Just asking.
Also, stop purposefully conflating Legal Immigrants with Illegal Immigrants. You know you're doing it. I know you're doing it.
Foreign invaders who come here to steal our jobs, take our homes and push us onto the sidewalk.
The Great Replacement
I think the issue is quite real. The amount of homless people you see on the streets in California is beyond normal. There are people earnings 100k$ a year leaving in basements or tiny sheared rooms. Pathetic.
Venezuela didn't look like that before the crash of oil prices and sanctions.
You probably want to tax the homeless in this country but you won't admit to it.
As I said, these tax breaks are for everyone and only limitted to local taxes (e.g. real estate tax) where a specific municipaliy can lower the tax rate for specific kind of real estate property but has to offer this exact rate to any other company having similar or identifical real estate property. There is a big difference how this system works in the US, where a company is granted a specific exemption including in respect of its income tax liability let alone net worth, real estate or other indirect taxes.
To those who say capitalism does not work, here is a great example of capitalism picking up the slack where leftist policies have failed.
Bonus: These dollars will be spent by private organizations, so you know they will be used much more efficiently than if they were just given to the government.
Bonus: These dollars will be spent by private organizations, so you know they will be used much more efficiently than if they were just given to the government.