Amazon says it will provide more than $ 2 billion to build and maintain 20,000 affordable homes in three of its most important work areas – the Seattle region, Nashville, Tennessee and Arlington, Virginia. The Housing Fund offers lower-cost loans, credit lines and grants under the market to support families who earn between 30 and 80 percent of the median income in each area. The fund will also provide $ 125 million in grants to public agencies and minority-led organizations to promote affordable housing solutions.
Important technology companies can increase the cost of living in the vicinity of their offices. Amazon follows people like Apple, Facebook and Google and focuses on such issues. All three have pledged at least $ 1 billion to tackle the affordable housing problem in California. Microsoft has also committed $ 750 million to alleviate the housing crisis in the Seattle area.