4.8 • 1000 Ratings
🗓️ 4 November 2019
⏱️ 12 minutes
🧾️ Download transcript
Click on a timestamp to play from that location
0:00.0 | Sup ya beautiful bastards. Hope you have a fantastic Monday. Welcome back to the Philip DeFranco Show. |
0:05.1 | Buckle up, hit that like button and let's just jump into it. And the first thing we're going to talk about today is this news about Apple and California. |
0:11.5 | This morning Apple announced that they are pledging $2.5 billion to combat the growing housing crisis in California. |
0:17.1 | And reportedly, that money will break down like this. One billion for an affordable housing investment fund, |
0:21.4 | which will reportedly be the first of its kind in California, |
0:23.7 | and allow the state to open lines of credit |
0:25.5 | for new housing for very low to moderate income residents. |
0:28.1 | Then another billion will go to a first-time home buyer |
0:30.3 | mortgage assistance fund, |
0:31.4 | which will reportedly help with down payment assistance |
0:33.5 | and provide more opportunities to buy for people |
0:35.7 | like service personnel, school employees, and veterans. |
0:38.5 | Apple will also reportedly use $300 million in land that it owns in San Jose available for affordable housing, |
0:43.6 | and the rest of the money will go to a Bay Area Housing Fund and means to support vulnerable population. |
0:48.0 | As of right now, the company anticipates that it will take two years for this plan to be utilized. |
0:51.9 | Also of note, though, is Apple is not the first major tech company to contribute to this ongoing issue. In October we saw Facebook commit $1 billion |
0:58.0 | to address the housing crisis in California. Earlier this year, Google also pledged a billion |
1:01.8 | to build homes in the Bay Area. And in fact, even over in Seattle, which is experiencing a |
1:05.7 | similar crisis, Microsoft pledged $500 million for affordable housing. And so it seems that you have these tech companies lending a helping hand, |
1:11.6 | the providing aid in a crisis, and also it is important to point out that many also say |
1:16.6 | was started in the first place by them. |
1:18.6 | Right, so for those that don't know, housing in California has actually become increasingly |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from philip defranco, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of philip defranco and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.