reuters.com
www.reuters.com

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.

  1. 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

  1. 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.

  • Jagothaciv@kbin.earth
    47·
    3 months ago

    I feel the problem will only get solved if we eliminate housing as an investment. The housing market has obviously been gamed and is a false indicator of wealth. There is no way a 1200 sf POS house is worth $300,000.

    • Bluefalcon@discuss.tchncs.deOP
      10·
      3 months ago

      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.

    • irotsoma@lemmy.worldEnglish
      2·
      2 months ago

      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.

    • timbuck2themoon@sh.itjust.worksEnglish
      12·
      3 months ago

      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.

      • BallsandBayonets@lemmings.world
        92·
        2 months ago

        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.

        • timbuck2themoon@sh.itjust.worksEnglish
          51·
          2 months ago

          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.

        • Cosmonauticus@lemmy.world
          11·
          2 months ago

          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.

          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.

  • SuperCub@sh.itjust.works
    142·
    2 months ago

    Unfortunately, this proposal is not going to change anything. The market will raise its prices and more money will be siphoned away.

    What’s missing in the current housing market is regulations to strictly ensure only humans—not private equity firms—can purchase homes. And if you own more than one home, your property taxes increase for each extra home you own.

    • MerchantsOfMisery@lemmy.ml
      101·
      2 months ago

      I really hate how what you’re saying is so goddamn common sense and yet people will drag their heels supporting it, partially because some selfishly think they may be an oppressor one day…

      Each day gets harder than the last, I swear.

      • Flocklesscrow@lemm.eeEnglish
        3·
        2 months ago

        Each generation since the Baby Boomers has had a worse life, mostly as a direct result of Baby Boomers.

    • grue@lemmy.worldEnglish
      4·
      3 months ago

      A lot of places appear to be trying to go for option C: persecuting homelessness in order to bring back Victorian-style workhouses and expand prison slavery.

      • Waveform@lemmy.world
        1·
        2 months ago

        Unfortunately you’re correct. Even if not everyone is funneled into the prison system, their belongings get taken away and/destroyed. Some even lose beloved pets. I imagine it’s extremely demoralizing having your life broken down to zero and having to rebuild again and again.

    • Bluefalcon@discuss.tchncs.deOP
      41·
      3 months ago

      Hold there feet to the fire (not a threat ). We let people get in office and allow them to slide bc they are “team”. Keep pushing for more progressive programs.

      The US average voting turn out for elections are low. We need to be more active. That is how we got these broken laws. Racist and oppressive people vote, EVERY TIME. If you don’t see that person, then run for a local spot. That is actual change.