Harris to Call for Construction of 3 Million New Homes, $25K Down Payment Support for 1st Time Homeowners

JosephZ · Aug 15, 2024

Vice President Harris is set to announce a plan to lower housing costs and end the housing shortage through the construction of new units and down payment support to first-time homebuyers, according to Harris-Walz campaign officials.

Harris’s “urgent and comprehensive four-year plan” will call for constructing 3 million new housing units, a tax incentive for homebuilders to construct “starter homes” to sell to first-time homebuyers and a $40 billion innovation fund for local governments to build housing.

The plan would also include $25,000 in down payment support for first-time homeowners.

https://thehill.com/homenews/campaign/4830475-kamala-harris-housing-plan-construction-of-3m-units-25k-down-payment-support/

dogs4thewin · Aug 15, 2024

JosephZ said:
Vice President Harris is set to announce a plan to lower housing costs and end the housing shortage through the construction of new units and down payment support to first-time homebuyers, according to Harris-Walz campaign officials.

Harris’s “urgent and comprehensive four-year plan” will call for constructing 3 million new housing units, a tax incentive for homebuilders to construct “starter homes” to sell to first-time homebuyers and a $40 billion innovation fund for local governments to build housing.

The plan would also include $25,000 in down payment support for first-time homeowners.

https://thehill.com/homenews/campaign/4830475-kamala-harris-housing-plan-construction-of-3m-units-25k-down-payment-support/

and where does she think this money will come from (particularly the downpayment assistance?

Bradskii · Aug 15, 2024

dogs4thewin said:
and where does she think this money will come from (particularly the downpayment assistance?

Where would you like it to come from?

dogs4thewin · Aug 15, 2024

Bradskii said:
Where would you like it to come from?

I would not like the 25k assistance to come from anywhere the new houses we do need more housing, but I am not sure we need to BUILD all of that new housing.

d taylor · Aug 15, 2024

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Just adding more to the, i am dependent on government list. Talk about buying votes, the democrats have it down pat.

Vambram · Aug 15, 2024

JosephZ said:
Vice President Harris is set to announce a plan to lower housing costs and end the housing shortage through the construction of new units and down payment support to first-time homebuyers, according to Harris-Walz campaign officials.

Harris’s “urgent and comprehensive four-year plan” will call for constructing 3 million new housing units, a tax incentive for homebuilders to construct “starter homes” to sell to first-time homebuyers and a $40 billion innovation fund for local governments to build housing.

The plan would also include $25,000 in down payment support for first-time homeowners.

https://thehill.com/homenews/campaign/4830475-kamala-harris-housing-plan-construction-of-3m-units-25k-down-payment-support/

How does Kamala Harris plan on paying for this? I'm willing to bet that she doesn't have a real plan on funding this massive project but she and her campaign are simply attempting to try to buy voters.

JosephZ · Aug 15, 2024

dogs4thewin said:
and where does she think this money will come from (particularly the downpayment assistance?

Here's how the down payment assistant program that my state offers works. Maybe VP Harris' plan will work in a similar way.

NC 1st Home Advantage Down Payment

If you are a first-time home buyer or military veteran and qualify for an NC Home Advantage Mortgage™, you may be eligible for $15,000 in down payment assistance with the NC 1st Home Advantage Down Payment.

Similar to the other down payment assistance options available with the NC Home Advantage Mortgage™, this down payment help is a 0%, deferred second mortgage, which is forgiven 20% per year at the end of years 11-15, with complete forgiveness at the end of year 15.

Repayment of all of our down payment options is required only if you sell, refinance or transfer your home before year 15.

Bradskii · Aug 15, 2024

Vambram said:
How does Kamala Harris plan on paying for this? I'm willing to bet that she doesn't have a real plan on funding this massive project but she and her campaign are simply attempting to try to buy voters.

If there's a housing shortage, what would your plan be to reduce that shortage?

dogs4thewin · Aug 15, 2024

Bradskii said:
If there's a housing shortage, what would your plan be to reduce that shortage?

I know that I am not the poster to whom this was addressed, but one thing repurpose empty buildngs. It would also help to make current houses livable again.

d taylor · Aug 15, 2024

Vambram said:
How does Kamala Harris plan on paying for this? I'm willing to bet that she doesn't have a real plan on funding this massive project but she and her campaign are simply attempting to try to buy voters.

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Oh the plan is simple print more money.

Bradskii · Aug 15, 2024

d taylor said:
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Oh the plan is simple print more money.

If that's your idea then it's a bad one. I thought you should know.

Bradskii · Aug 15, 2024

dogs4thewin said:
I know that I am not the poster to whom this was addressed, but one thing repurpose empty buildngs. It would also help to make current houses livable again.

Do you know how many there are, where they are and what condition they're in?

dogs4thewin · Aug 15, 2024

Bradskii said:
Do you know how many there are, where they are and what condition they're in?

houses you mean? I assume that is the they in question.

RDKirk · Aug 15, 2024

JosephZ said:
Vice President Harris is set to announce a plan to lower housing costs and end the housing shortage through the construction of new units and down payment support to first-time homebuyers, according to Harris-Walz campaign officials.

Harris’s “urgent and comprehensive four-year plan” will call for constructing 3 million new housing units, a tax incentive for homebuilders to construct “starter homes” to sell to first-time homebuyers and a $40 billion innovation fund for local governments to build housing.

The plan would also include $25,000 in down payment support for first-time homeowners.

https://thehill.com/homenews/campaign/4830475-kamala-harris-housing-plan-construction-of-3m-units-25k-down-payment-support/

And a chicken in every pot.

d taylor · Aug 15, 2024

Bradskii said:
If that's your idea then it's a bad one. I thought you should know.

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Modern Monetary Theory, which, in part, argues that the government should pay for programs requiring big spending, such as the Green New Deal, by simply printing more money.

Bradskii · Aug 15, 2024

dogs4thewin said:
houses you mean? I assume that is the they in question.

Well... that's what we're talking about.

Bradskii · Aug 15, 2024

d taylor said:
Modern Monetary Theory, which, in part, argues that the government should pay for programs requiring big spending, such as the Green New Deal, by simply printing more money.

And you think that's a bad idea.

From here: The U.S. economy under Trump and Biden – GIS Reports

The consequences of inflation and monetary policy play a significant role in shaping public perceptions and setting expectations. President Trump sought money printing, and the Federal Reserve complied.

Tuur · Aug 15, 2024

JosephZ said:
Here's how the down payment assistant program that my state offers works. Maybe VP Harris' plan will work in a similar way.

NC 1st Home Advantage Down Payment
If you are a first-time home buyer or military veteran and qualify for an NC Home Advantage Mortgage™, you may be eligible for $15,000 in down payment assistance with the NC 1st Home Advantage Down Payment.

Similar to the other down payment assistance options available with the NC Home Advantage Mortgage™, this down payment help is a 0%, deferred second mortgage, which is forgiven 20% per year at the end of years 11-15, with complete forgiveness at the end of year 15.

Repayment of all of our down payment options is required only if you sell, refinance or transfer your home before year 15.

Great. Another residential housing bubble. Worse, I doubt it will help those who need housing the most.

d taylor · Aug 15, 2024

Bradskii said:
And you think that's a bad idea.

From here: The U.S. economy under Trump and Biden – GIS Reports

The consequences of inflation and monetary policy play a significant role in shaping public perceptions and setting expectations. President Trump sought money printing, and the Federal Reserve complied.

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I am not trump supporter and certainly not a harris supporter. And i do think that is a bad idea.

Bradskii · Aug 15, 2024

d taylor said:
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I am not trump supporter and certainly not a harris supporter. And i do think that is a bad idea.

So we agree on that. So where would the best place be from which to get the money?

Harris to Call for Construction of 3 Million New Homes, $25K Down Payment Support for 1st Time Homeowners

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