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Last month, the vice president announced a series of proposals aimed at addressing theaffordable housing crisis.
GOBankingRates examined five ways Harris home policiescould affect middle-class homebuyers.
The result is rising prices and declining affordability.
Harris backed efforts to increase the supply of affordable housing by investing inconstruction and rehabilitation.
Provide Rent Relief
The Biden-Harris administration providedover $46 billionto eligible rentersfacing eviction during the pandemic.
Harris and Republican Vice Presidential candidate J.D.
Big investing firms own about 3% of single-family homes, which they then rent out.
Harris also would continue a Biden-era initiative to cap rent increases at 5% to mitigate the housing crisis.
Investors would be discouraged from buying property to compensate for losing the tax loophole.
Create Climate-Resilient Housing
Harris has linked affordable housing with climate change action.
For example, providing 3 million families with $25,000 empowers more demand.
Incentivizing greater demand while the supply is stagnant will encourage more bidding wars.
The result will be more expensive housing, not more affordable housing.
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