U.S. home prices have risen 50% in the last five years and rents have risen 35%, according to real estate firm Zillow.
“I keep hearing about the suburban woman doesn’t like Trump,” he said at a campaign event in Howell, Michigan last week. “I keep the suburbs safe. I stopped low-income towers from rising right alongside of their house, and I’m keeping the illegal aliens away from the suburbs.”
At an Aug. 16 campaign stop in North Carolina, Harris called for building 3 million more housing units in four years, on top of the 1 million or so built annually by the private sector, through a new tax credit for developers who build homes aimed at first-time homebuyers and a $25,000 tax credit for those buyers.
- Trump’s remarks are reminiscent of how red lining was pushed. Same language. John Oliver did a great piece on it.
https://m.youtube.com/watch?v=_-0J49_9lwc
- Harris’s plan is estimated to cost tax payers a lot long term. However, that is what investments in our future will look like.
The Committee for a Responsible Federal Budget, a nonpartisan watchdog group, estimates those policies would cost at least $200 billion over 10 years.
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Agree. We have politicians ballooning the market and most are share holders, landlords, or developers. We also need to reevaluate school funding using property taxes. Different beast but still attached at the hip.
1200sq ft only worth $300,000? 🤣 My 820 SQ ft home on 1600 SQ ft of land cost nearly $880,000 a few years ago, and is currently valued at 1.2 million on redfin, though that’s ridiculous. And it’s pretty average quality, just in a relatively nice neighborhood in a major city on the US West Coast. It’s insane.
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You’re entirely right but the reality of it is that people’s houses are effectively one of their biggest investments. That’s a tough hill to climb back down from.
Not terribly difficult at all actually. You don’t get to own more than one residence. Legally. Anyone who does has two years to sell it. Anyone whose company exists to profit off of renting out residential housing has to liquidate all assets and use the funds to reimburse those they stole from.
Oh, you meant a difficult idea to sell to the owner class. Well yeah anything mildly progressive will be fiercely opposed by those who stand to be slightly less rich because of it.
I mean…a lot of normal people is what I’m talking about. A lot of people truly only have an “investment” in their house. If you suddenly decrease the value to where they’re underwater on their mortgage, that is not good (for them nor politically or economically, etc.)
I agree that we need to start putting things in place to rectify that but by its very nature it will basically just have to let inflation eat away the value of houses.
Otherwise, I agree we basically need to stop companies owning housing, etc. etc.
No just… no. This would be ripped to shreds in any court on Earth. What we need are regulations to encourage affordable housing, rent control, and higher taxes on multiple home owners and rental corporations.
Of course it would, because the courts are run by the owner class. That doesn’t mean it isn’t the right thing to do.