Donald Trump loves to talk about things being “rigged” but few contests are more rigged than the competition to secure home ownership in the United States. One of the biggest indicators that an individual is unlikely to ever own their own home is whether or not their patents owned a home. Owning a home, or even obtaining a mortgage to buy one, adds significantly to one’s wealth and ability to obtain credit for other things, and it is this disparity that Vice President Harris wishes to address with her plan to help “first generation homeowners” purchase homes with a government backed down payment of $25,000:
“When Vice President Kamala Harris unveils her economic policy proposals in Raleigh, North Carolina, on Friday, it will include a proposal to provide up to $25,000 in down payment support for first-time homebuyers, according to a campaign official.
The campaign is vowing that during its first term, the Harris-Walz administration would provide working families who have paid their rent on time for two years and are buying their first home up to $25,000 in down-payment assistance, with more generous support for first-generation homeowners.
In a preview statement obtained by ABC News, the campaign says, “Many Americans work hard at their jobs, save, and pay their rent on time month after month. But they can’t save enough after paying their rent and other bills to save for a down payment — denying them a shot at owning a home and building wealth. As the Harris-Walz plan starts to expand the supply of entry-level homes, they will, during their first term, provide working families who have paid their rent on time for two years and are buying their first home up to $25,000 in down-payment assistance, with more generous support for first-generation homeowners.”
“The Biden-Harris administration proposed providing $25,000 in downpayment assistance for 400,000 first-generation home buyers — or homebuyers whose parents don’t own a home — and a $10,000 tax credit for first-time home buyers. This plan will significantly simplify and expand the reach of down-payment assistance, allowing over 1 million first time-buyers per year – including first-generation home buyers – to get the funds they need to buy a house when they are ready to buy it,” the Harris campaign said.“
There is nothing in her proposal that even hints that “illegal aliens” will have access to these subsidies. And while it is true that a larger percentage of the population of the U.S. that are first time home buyers are Latin American or Black, there are probably as many or even more white young people who qualify for the guarantees simply because there are so many more whites in America than there are in either of those ethnic groups.
Also note that the language of the proposal stipulates that the subsidies would only come on line after “the Harris-Walz plan starts to expand the supply of entry-level homes“…
Prior to Harris’ speech on Friday, an official also released more details on the housing component of Vice President Harris’ lower costs plan to “help end the housing supply shortage” that includes calling for the construction of 3 million new housing units and stopping Wall Street investors from buying homes in bulk.
… which puts to the lie the second whopper stated by Vance in his tweet complaining about the proposed legislation – that it would cause prices to spike in the existing housing market…
You can read the plan (attached). There’s nothing in it that says what Vance is claiming. pic.twitter.com/A1iKsUDsef
— Ron Filipkowski (@RonFilipkowski) August 16, 2024
Ironically (or cluelessly) Vance ends his tweet saying we should be “making it easier and more affordable for American citizens to buy homes” which is exactly why the Harris/Walz plan does, and what no Trump/Vance policy will ever do.
Republicans have nothing to offer Americans besides bullshit.
— Eric Geeks 🏳️🌈 (@UpBeatGeeks) August 16, 2024
Exactly
They lie and then lie about the lie they just told.
No wonder poor JD can’t keep his lies straight…
Lie? Of course. They bet the American public is so stupidly selfish and morally bankrupt they can depend on them to vote against their self interest. Unfortunately there’s truth to that perception. Now it’s up to the voters to prove them wrong.
I wouldn’t take a floor in Trump.Tower if Donald Dumb@$$ gave it to.me for free.