Harris' proposal aims to alleviate first-time homebuyers' struggles by providing $25,000 in down payment assistance, targeting low supply and affordability in the housing market.
The plan offers $25,000 credit to those who have reliably paid rent for two years, indicating a focus on responsible renters transitioning to homebuyers without strict income requirements.
To combat housing inventory issues, Harris suggests a tax credit for builders of starter homes, and the allocation of federal land for new residential developments.
Concerns arise among experts regarding the plan's impact on the housing market; some believe it could intensify unaffordability problems supported by limited housing availability.
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