Heading into Super Tuesday, here are the candidates’ plans to help more Americans rent and buy homes.
Housing hasn’t traditionally been a hot topic in presidential elections, but with homeownership financially out of reach for many Americans, the candidates vying for the Democratic nomination have been eager to discuss the issue.
Klobuchar also mentioned concerns related to housing deserts and the need to pay for more affordable housing. During a debate in November, MSNBC CMCSA, -1.51% moderator Kristen Welker asked billionaire hedge fund manager Tom Steyer whether he was the best person to address this issue, citing the housing crisis in Steyer’s home state of California. “We need to apply resources here to make sure that we build literally millions of new units,” Steyer responded.
But the primary calendar itself may be largely the cause of candidates’ enthusiasm, said Rick Sharga, a mortgage-industry veteran. Doing so, he argued, would curb bias against black and Latino communities, which some say has depressed home values in those neighborhoods. Appraisers argue that current standards prevent bias, however.• Draft and pass legislation to create a Homeowner and Renter Bill of Rights, modeled on a similar policy in California.• Expand the Community Reinvestment Act to include mortgage lenders and insurers to ensure communities of color have access to financial services.
• Forming an office in the Department of Housing and Urban Development designed to strengthen rent control, tenant protections and inclusive zoning. • Investing $8 billion across HUD and the Department of Agriculture to form a first-time homebuyer assistance program • Increasing the supply of new affordable housing units, expanding the Low-Income Housing Tax Credit and raising funding for the National Housing Trust Fund.• Curbing discrimination in rental housing and bringing more landlords into the voucher system.
• Combatting lending discrimination and reverse Trump administration changes to policies under the Fair Housing Act. Sen. Elizabeth Warren As she has done on other issues, such as student debt, Elizabeth Warren, the senator from Massachusetts, has released a detailed plan to tackle a wide variety of housing-related issues.
• Building, preserving or rehabilitating 3.2 million housing units nationwide for lower- and middle-income people in order to lower rents by 10%. This, she said, would be funded by raising the estate tax back to Bush-era levels.
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