Vice President Kamala Harris’ plan to make housing more affordable would in reality double down on policies that have caused skyrocketing home prices under the Biden administration.
Harris took to the debate stage Tuesday night touting her “plan” to solve the housing shortage. Her proposal, however brief, hits on some key points that have the potential to drive up housing prices exponentially:
Vice President Harris has put forward a comprehensive plan to build three million more rental units and homes that are affordable to end the national housing supply crisis in her first term. And she will cut red tape to make sure we build more housing faster and penalize firms that hoard available homes to drive up prices for local homebuyers. Vice President Harris knows rent is too high and will sign legislation to outlaw new forms of price fixing by corporate landlords.
As more new homes are built and affordable housing supply increases, Vice President Harris will provide first-time homebuyers with up to $25,000 to help with their down payments, with more generous support for first-generation homeowners.
Harris’ platform promises to exacerbate those prohibitive conditions she and Biden caused for future generations of would-be homeowners, making it nearly impossible for many young Americans to start buying homes, a key cultural milestone that serves as part of the foundation to raising a family. Instead, Harris’ plan would more likely keep Americans shacked up in apartments until much later in life.
“The worse this gets, the more we are essentially attaching a penalty to people who are investing in themselves, investing in their financial future, investing in their family, and investing in intergenerational wealth, and all of this is creating a world of haves and have-nots,” EJ Antoni, research fellow and public finance economist at the Heritage Foundation, told The Federalist in an interview. “It is making real what the World Economic Forum said quite a while ago, ‘You will own nothing and be happy.’” […]
— Read More: thefederalist.com
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