The current housing market is characterized by unaffordability, largely influenced by years of high interest rates, which have deterred potential buyers from entering the market.
Kamala Harris proposed a strategy to tackle the housing crisis by aiming to build 3 million new homes by 2029, along with substantial tax credits for first-time buyers.
The generational impact of the housing unaffordability crisis is evident, particularly for millennials, as those who purchased homes before the pandemic have seen their equity grow significantly.
The proposed housing plan seeks to prioritize young, first-time buyers over larger investors, signaling a shift in focus toward making home ownership accessible to more people.
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