Los Angeles has been suffering from an affordable housing crisis for years now, but two West Coast cities that have even worse issues with that problem, Seattle and San Francisco, are getting some help from a couple of the tech giants that help define their cities. In Seattle, Microsoft declared a week and a half ago that the industry has an interest and responsibility to help the people in communities transformed by the tech boom that pushed many residents out of the area as housing costs exploded. The company is putting up $500 million to help address the problem and says it will fund construction for affordable homes not just for its own non-tech workers, but also for teachers, firefighters and other middle and low-income residents.

A week after the Microsoft announcement, a group of philanthropists in the Bay Area announced they are committing themselves to expanding the availability of affordable housing in the Bay Area with their own $500 million investment fund. Dubbed the Partnership for the Bay’s Future, and spearheaded by Facebook guru Mark Zuckerberg (and his personal charity, the Chan Zuckerberg Initiative), the group says the money will seed an investment fund that will work to preserve housing for 175,000 families and add capacity for 8,000 new homes over the next decade through loans and other assistance to community groups. A separate $40 million fund will make grants to local governments and other groups trying to devise policies to protect affordable housing on a large scale. So far, the fund (which also includes Morgan Stanley, Kaiser Permanente and Facebook itself) has raised $260 million and is looking for other partners to possibly raise the total even higher than the original pledge.

The question of what the tech industry should do to ease housing crises in tech hubs has been an issue in San Francisco and Seattle politics in recent years, and the debate about the rapid growth of the tech industry and the inequality that often follows has spilled across the country. In Los Angeles, we housesellers have seen a smaller-scale--but still noticeable--example of this trend in the Silicon Beach area of Venice and its adjacent beach towns. As LA increasingly becomes a major tech hub, we will also soon need to address the role that the major tech companies play in our housing affordability issues.