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Apple today announced it would commit $2.5 billion to ease a housing shortage that has driven up prices across California, with most of the money dedicated to funds that will be run either with or by the state government. One billion dollars will go to a jointly run fund with state officials aimed at jumpstarting delayed or stalled affordable housing projects. Another $1 billion will go to a state-run fund to provide first-time homebuyer financial assistance to teachers, nurses, and first responders such as police and firefighters, among others. The move comes after Facebook and Google both committed $1 billion toward California housing initiatives while Microsoft committed $500 million in the Seattle, Washington area. (Reuters)