WASHINGTON (AP) — The Vice President Kamala Harris has launched a new advertising campaign aimed at highlighting her ambitious plan to construct 3 million new homes over four years. This initiative is part of her strategy to address inflationary pressures and present a clear contrast to the approach of Republican Donald Trump. Harris, who is also the Democratic presidential nominee, is emphasizing her personal connection to the issue, having grown up in rental housing while her mother saved for years to purchase a home. The ad targets voters in crucial swing states like Arizona and Nevada, showcasing the importance of addressing housing issues in these regions.
Additionally, Harris is proposing government assistance of up to $25,000 for first-time homebuyers to help alleviate the burden of rising housing costs, which have significantly impacted the consumer price index. Shelter costs have risen by 5.1% over the past year, far exceeding the overall inflation rate of 2.9%, as reported by the Bureau of Labor Statistics. Dan Kanninen, the campaign’s battleground states director, emphasized Harris’s commitment to ending the housing shortage and tackling the practices of corporate landlords and financial institutions that contribute to escalating housing costs.
Harris’s plan includes tax breaks for homebuilders focusing on first-time buyers and the expansion of incentives for companies involved in rental housing construction. With many local zoning regulations limiting housing supply, Harris aims to double funding to $40 billion to encourage cities and towns to remove barriers to construction. Despite Trump’s background as a real estate developer, data reveals a housing shortage persisted during his presidency and continues to pose challenges. The shortage was exacerbated by inflation spikes following the pandemic and increased food and energy costs due to geopolitical events such as Russia’s invasion of Ukraine.
Although Trump has offered various solutions to address housing costs, including linking immigration policies to housing demand, Harris faces criticism regarding the funding of her housing agenda. Trump has questioned the feasibility of providing $25,000 to every first-time homebuyer, including undocumented immigrants. The Harris campaign plans to organize housing affordability events in key cities across Pennsylvania, Arizona, Nevada, North Carolina, and Georgia, underscoring the importance of housing policy in these regions. It remains to be seen how Harris’s housing plan will resonate with voters and whether these initiatives will effectively address the ongoing challenges in the housing market.