As housing costs remain a top concern for voters, both Vice President Kamala Harris and former President Donald Trump have laid out their approaches to tackling the affordability crisis ahead of the November 5 election. Here’s where they stand:
Kamala Harris: Direct support for buyers
Vice President Harris has consistently stressed the need to help first-time homebuyers break into the market. Her proposal includes up to $25,000 in down-payment assistance.
Harris promises to create 3 million new housing units over the next four years, supported by tax incentives for builders focusing on affordable rentals and starter homes.
Lastly, a $40 billion “innovation fund” would enable local governments to design housing solutions that best fit their specific challenges, from zoning changes to infrastructure upgrades.
Donald Trump: Deregulation
While former President Trump hasn’t introduced a formal housing plan this election, his previous term offers some clues.
In 2019, he created the White House Council on Eliminating Regulatory Barriers to Affordable Housing, working with state and local governments to cut red tape slowing down housing development.
Trump has referred to zoning as a "killer" and tends to favor single-family housing over multifamily or mixed-use developments.
As Ralph McLaughlin, senior economist at Realtor.com, explains, “While details of former President Donald Trump’s policies haven’t been as specific, his campaign has focused on more second-order approaches of helping homebuyers, such as inflation reduction, lowering aggregate housing demand via immigration controls, and opening up vast swaths of federally owned land for housing development.”
Both Trump and Harris support opening federal land – which makes up about 30% of US territory – for housing development. However, neither has provided details on this proposal yet.
The voters’ perspective
According to a Redfin survey, nearly half of renters (48.4%) believe Harris would do more to make housing affordable, while one third (31.2%) think Trump would have a bigger impact.
Nearly one in five renters (18.7%) aren’t sure which candidate would be best, which means housing could be a significant issue for many as they weigh their options in November.
More election headlines
Renters targeted as crucial voting block in new campaign – Axios
Typical swing state renter earns 17% less than needed to afford apartment – Redfin
Majority of Americans express strong support for zoning reforms – PayProp blog
