Kamala Harris's proposal focuses on significantly increasing housing supply and providing financial support for first-time homebuyers amid rising costs.
Donald Trump's housing strategy controversially links immigration reform to alleviating housing pressure, despite widespread economic critique of this approach.
Deep dives
The Housing Cost Crisis
Housing costs in the United States have dramatically increased over the past few years, with home prices rising by approximately 50% since 2019, amplified by a housing shortage. The pandemic triggered a shift in housing demand, leading many people to seek larger living spaces away from urban areas, which in turn heightened competition for limited housing stock. As a result, both potential buyers and renters are feeling the pressure of skyrocketing prices, prompting discussions among political candidates about how to address these challenges. The rising cost of housing has emerged as a significant concern for middle-class voters, influencing the economic narratives of current political campaigns.
Policy Proposals from Kamala Harris
Kamala Harris's housing platform emphasizes increasing the housing supply significantly, with plans to build three million new homes during her term. She aims to incentivize private-sector home builders to collaborate with the government to overcome zoning and permitting challenges, believing that increased supply will lead to lower prices. Harris's approach also includes financial support for first-time homebuyers, proposing a $25,000 credit to assist with down payments despite concerns that this could merely exacerbate demand without addressing the housing shortage firsthand. Critics question whether such ambitious plans are feasible and whether they can effectively navigate the complexities of local housing policies.
Trump's Approach to Housing and Immigration
Donald Trump's strategy for addressing high housing costs is closely linked to immigration reform, positing that reducing the number of undocumented immigrants will free up housing for citizens. His campaign asserts that better control of immigration could alleviate pressure on housing supply, although this claim has been widely challenged by economists who argue that immigrants primarily occupy rental properties rather than buying homes. Trump’s proposals lack a comprehensive housing strategy beyond immigration, focusing instead on connecting housing affordability to his broader immigration agenda. This narrow focus raises questions about the effectiveness of his plans to genuinely address the existing housing crisis and its multifaceted causes.
Former president Donald Trump and Vice President Kamala Harris have made vastly different proposals to address the housing shortage. Harris says that her administration will provide incentives to get millions of homes built while helping first-time homebuyers with their down payments. Trump says that deporting large numbers of undocumented immigrants will free up more housing for Americans, an idea that has been widely debunked by economists.
Host Elahe Izadi speaks with housing reporter Rachel Siegel about why housing has become such a hot topic this election season, and whether either candidate's plans are feasible.
Today’s show was produced by Sabby Robinson, with help from Bishop Sand. It was mixed by Sam Bair and edited by Peter Bresnan, with help from Lucy Perkins. Thanks to Sam Fortier and Mike Madden.
