Amazon recently announced plans to invest more than $120 million in affordable housing near transit stations in Seattle and Washington, D.C., the latest example of a tech corporation attempting to address the housing issue.

Amazon announced that it would build 1,060 houses near four public transport stations in collaboration with Sound Transit and the Washington Metropolitan Area Transit Authority. SeaTac and Bellevue are the Washington state locations. Maryland's New Carrollton and College Park are the other locations.

Amazon is expanding its operations in Bellevue, Washington, and is constructing a new corporate hub in Arlington, Virginia.

Catherine Buell, director of the Amazon Housing Equity Fund, said, "We know that our investment in these areas brings many economic opportunities for residents in the region, but we also acknowledge that this growth needs to benefit everyone in the community."

Amazon pledged $2 billion in January 2021 to establish its Housing Equity Fund, a $2 billion effort aimed at preserving and creating 20,000 affordable houses.

Following years of criticism that the tech boom had aggravated the problem as incomes in the industry and housing prices soared, Microsoft has announced that it will invest at least $750 million in affordable housing in the Seattle region.