Amazon to build homes for its middle executives
Amazon has announced plans to create or preserve up to 20,000 affordable homes in areas close to its US facilities.
The cost of "working-class housing" will reach $ 2 billion.
According to the company, Amazon will be putting $2 billion toward affordable housing. The homes will be built in Puget Sound (Washington state), Arlington (Virginia) and Nashville (Tennessee), where the company maintains significant hubs.
The action follows similar moves by other tech companies, such as Google and Facebook, as the tech industry is widely accused of gaining momentum, especially over the past decade, leading to unreasonable increases in California property prices, especially in San Francisco.
According to Amazon, much of the Company's spending will be financed by low-cost loans that middle- and low-income families can afford.