Microsoft is the latest tech giant to fund affordable housing projects in the white-hot real estate market where they are based. As part of a community building initiative in Seattle, Microsoft is pledging $475 million in low-interest loans to support housing construction projects over three years, with another $25 million marked for homelessness. There has been a move by tech companies to address the lack of affordable housing stock in recent years. With rental costs spiking as much as 50 percent in less than a decade in cities like San Francisco, some say it’s about time these tech companies stepped in to help. But is this the best way to solve the housing problem?
Anya Lawler, Western Center on Law & Poverty