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Harris's Housing Plan: A Recipe for Disaster?

Friday, September 6, 2024

Kamala Harris recently unveiled her housing plan, which proposes to build 3 million new units and provide $100 billion in down payment assistance. Sounds good on paper, but history shows us this approach has consistently failed for decades. The subsidies will likely raise prices, as many first-time buyers would have bought anyway. And the construction incentives face challenges like cost overruns, corruption, and competition from private developers.

We've seen this movie before - it ends in busts, foreclosures, and lasting scars on cities. Instead of more subsidies, we need a paradigm shift: deregulate zoning to boost supply at no taxpayer cost.

kamala harris

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