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Apple Pledges More Than $400 Million Towards Affordable Housing Initiatives in California This Year

mrothroc said:
Just to make sure your ire is directed to the right place, this is decided by the local government, not the state. The people who live in PG have elected city officials who have restricted growth. I'll leave it to you to decide if this is right or wrong.
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Oh I'm aware. The tree huggers have gone nuts with making it as hard as possible to get building permits all over CA.
Process varies by city, but the end result is the same.

Another reason we don't go back is the PG council revoked 90% of the permits for short term rental properties. We've been renting an ocean front house for a few weeks each summer from the same lady for years.
PG council went to the lottery with short term property rental permits and she didn't get one.
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smallcoffee said:
Is the population decreasing or increasing over time?
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Decreasing...
About 691,000 people left California to live in other states in 2018, new census estimates indicate. At the same time, roughly 501,000 people came to California from other states, creating a net loss of about 190,000 residents in 2018.

From 2015 to 2017, California saw a net loss of between 129,000 and 143,000 residents to domestic migration each year, according to census estimates.
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Source: https://www.sacbee.com/news/databases/article236910698.html

CA's population still grows due to in state births, but people leaving CA vs moving to CA is a different matter.
 
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smallcoffee said:
The could also just not avoid/minimize taxes overseas, etc.
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I don't understand how that helps California, though.
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rjohnstone said:
Decreasing...


Source: https://www.sacbee.com/news/databases/article236910698.html

CA's population still grows due to in state births, but people leaving CA vs moving to CA is a different matter.
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lol

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That's "decreasing" to you?
 
How is there a housing crisis? The mortgage loan system helps support the country's smallest minority (top 1% most wealthy). As long as we are properly supporting the smallest groups then I don't see a problem here at all. 🙄
 
This is just virtue signaling from Apple - a marketing expense to buy goodwill for the company. May be worth it for that reason alone and likely why it is being done. As to actually solving the problem, lack of money isn't the cause of it, so more money can't solve it. The regulatory environment is the real cause and that requires a political solution. More money in the housing market will just drive prices higher, not make anything more affordable. Solving the problem isn't the goal anyway.

What Apple is doing that may actually make things better is encouraging tele-commuting. That makes living close in expensive locations less important and people can spread out to cheaper locations.
 
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I’ve lived here all my life and it isn’t just a Democrat/republican issue. Republicans held power here during much of the 80’s and 90’s and it was STILL expensive back then.

it’s the red tape. There’s state, county and local red tape for new builds. You have to have environmental studies, build and trap rain water water or something, but mainly it’s the fees associated with the permits and inspections.

If you make under 50k it’s very difficult to buy anywhere in this state. The affordable housing typically means section 8 apartments of which there are long waiting lists for and if you have a minimum wage or slightly higher job you do not qualify so they incentivize you not working. Section 8 also pays for actual homes and nice ones at that.

The other problem is the Chinese. They buy in Orange County (among other nice areas) and pay cash because they cannot own property in China. My ex SO‘s aunt and uncle owned a 1500sq ft house in Irvine listed for $700k (which was market value). It sold in 2 days after 1 day of open house for $60k above asking all cash Chinese buyers. They just wanted new toilets installed. This was in 2017 Btw. We can’t compete with that. Most of us can’t. These are smart investments on their part so not hate, just stating facts.
 
dogslobber said:
As a shareholder, how does this initiative maximize shareholder value? I get it can create goodwill in the human sense but can it create such in the financial sense?
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As a shareholder, maybe you can go shareholding somewhere else in line with what you want.
 
I would just like to mention that Tim Cook just got 133 mio dollars, Musk got 595 mio dollars.
400mio dollars is absolutely nothing for such a giant company. If they had to pay actual taxes that in some way relate to the amount of wealth and earning they have they would have to pay way more.
 
MacRumors said:


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_housing-initiative-update_page-street-housing_07132020_big.jpg.large_2x.jpg

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.

Article Link: Apple Pledges More Than $400 Million Towards Affordable Housing Initiatives in California This Year
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Not with my dividends thank you very much.
 
smallcoffee said:
I appreciate the sentiment, but I don't like the idea of corporations trying to solve public policy problems. Where is the state of California in this?

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.)
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Why don't you like people and corporations solving societal problems? Why must politicians be the ones to solve it?

You, as a citizen, are free to create your own organization that can collect money and build affordable housing. That shouldn't be discouraged. Government isn't great or necessary for everything.
 
NokX said:
Why don't you like people and corporations solving societal problems? Why must politicians be the ones to solve it?

You, as a citizen, are free to create your own organization that can collect money and build affordable housing. That shouldn't be discouraged. Government isn't great or necessary for everything.
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It took California and the leftist government to destroy the state. "Why must politicians be the ones to" one run government. I'm almost sure you are making a joke there.
 
NokX said:
Why don't you like people and corporations solving societal problems? Why must politicians be the ones to solve it?

You, as a citizen, are free to create your own organization that can collect money and build affordable housing. That shouldn't be discouraged. Government isn't great or necessary for everything.
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First, let's make sure we're clear here. I didn't say that I don't like people solving social problems.

I don't like corporations solving problems, because I don't pay taxes to corporations to solve societal problems. Corporations are not elected and are not beholden to me or the rest of the people. I don't particularly like politicians, but the reason we have crappy politicians is because we have crappy, uneducated voters.

I'm not a corporate technocrat. I don't think Silicon Valley or corporations should be building my roads, or addressing the opioid addiction, or declaring war.

NokX said:
Government isn't great or necessary for everything.
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Not something I said.
 
smallcoffee said:
First, let's make sure we're clear here. I didn't say that I don't like people solving social problems.

I don't like corporations solving problems, because I don't pay taxes to corporations to solve societal problems. Corporations are not elected and are not beholden to me or the rest of the people. I don't particularly like politicians, but the reason we have crappy politicians is because we have crappy, uneducated voters.

I'm not a corporate technocrat. I don't think Silicon Valley or corporations should be building my roads, or addressing the opioid addiction, or declaring war.



Not something I said.
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So Disney shouldn't create neighborhoods with roads, or medical companies shouldn't be looking at ways to fight opioid addiction, or providing our troops with the latest in technology to fight wars? (Never heard of a company declaring war.)

We should be open to all forms of help.

Government and society are quite different entities. Be careful what you want government to have control over. Governments are best when they simply govern.
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chucker23n1 said:
Well, for starters, because a corporation isn't beholden to the citizens.
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And? So because someone or some corporation (a group of people) aren't beholden to the tax payer they can't offer assistance?
 
NokX said:
And? So because someone or some corporation (a group of people) aren't beholden to the tax payer they can't offer assistance?
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Um, of course they can. And they do.

It's just better when an elected body does it.
 
You want to reduce taxes by cities and the state? Make police departments stop paying court settlements using taxpayer money. Require police to carry their own malpractice insurance like doctors do.
 
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chucker23n1 said:
I don't understand how that helps California, though.
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lol

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That's "decreasing" to you?
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You're looking at total population. I'm talking about people moving to CA and those moving away.
The stats are not wrong... more are moving away from CA than moving to CA.
With close to 40 million people in CA, population growth by births is expected.
2010 to 2019 numbers fall in line with that.
 
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