Housing Supply Proposals by Harris and Trump

Kamala Harris has outlined a comprehensive housing plan that includes a commitment to build 3 million new homes during her first term. This initiative is coupled with innovative strategies, such as an innovation fund aimed at encouraging local governments to modify zoning laws to facilitate construction. Harris also proposes $25,000 in down payment assistance for first-time homebuyers, which aims to address affordability challenges and promote homeownership, particularly among marginalized communities. In contrast, Donald Trump focuses primarily on reducing regulations and opening federal lands for large-scale housing projects, arguing that current regulations significantly inflate the costs of new homes. Both candidates acknowledge the urgent need to address the housing shortage in the U.S., which is estimated to be 7 million affordable units short for low-income Americans.

Harris’ Proposals

• 3 Million New Homes: Harris aims to tackle the housing crisis by significantly increasing the number of available homes, targeting both rentals and starter homes.
• Down Payment Assistance: The proposal for $25,000 in assistance for first-time homebuyers is aimed at making homeownership more attainable, especially for those who may struggle with upfront costs.
• Innovation Fund: This fund would support local governments in experimenting with zoning changes to promote more housing development.

Trump’s Approach

• Regulatory Reduction: Trump emphasizes the need to cut regulations that he claims contribute to high housing costs, advocating for a more business-friendly approach to housing development.
• Federal Land Utilization: He proposes to open up federal land for large-scale housing projects, which he argues will help alleviate the housing shortage and reduce costs.

Both candidates reflect differing strategies to address the complex issue of housing supply, with Harris focusing on direct assistance and regulatory changes, while Trump prioritizes deregulation and land use reform.