Key Information on Harris’ Affordable Housing Economic Plans

Are you struggling to find affordable housing in today’s market? You’re not alone. The housing affordability crisis has been a major issue in the United States, with a lack of supply being a key contributing factor. Here at Extreme Investor Network, we believe that increasing the supply of housing is the bipartisan sweet spot for addressing this issue.

According to Dennis Shea, the executive director of the Bipartisan Policy Center, there has been a significant decrease in new construction of single-family homes and rental buildings since the foreclosure crisis. This has led to a shortage in affordable housing options for both renters and first-time buyers. To address this, a Harris-Walz administration proposes a tax incentive for homebuilders who sell starter homes to first-time buyers, in addition to the Neighborhood Homes Tax Credit.

Related:  Who is eligible to claim a 'special tax credit' for retirement savings?

Former President Donald Trump has also highlighted the need to increase housing supply, but experts like Edward Pinto are skeptical of the effectiveness of supply-side proposals compared to demand-side efforts. James Tobin, CEO of the National Association of Home Builders, emphasizes the importance of clarifying the definition of a “starter home” and considering regional variations in pricing.

On the topic of affordability, Vice President Kamala Harris has proposed a $40 billion innovation fund to empower local governments to address housing needs. While some experts are skeptical about the fund’s effectiveness and high price tag, Harris also aims to provide down-payment assistance to first-time homebuyers and address predatory housing practices through pending legislation.

Related:  Refinancing student loans may cause borrowers to lose opportunities for loan forgiveness

At Extreme Investor Network, we understand the challenges of navigating the complex housing market. Stay tuned for more insights on personal finance and real estate investment strategies to help you achieve your financial goals.

Source link