From Breitbart: Vice President Kamala Harris will outline sweeping new federal subsidies for first-time homebuyers Friday when she addresses a rally in North Carolina.
Bloomberg reports the 2024 Democratic presidential nominee will propose offering as much as $25,000 for first-time homeowners as down payment aid via funding provided by taxpayers.
Under the program, more than one million first-time home buyers who have a two-year history of on-time rent payments would be eligible for “down-payment support” and leverage into a purchase.
The plan to subsidize housing demand followed an earlier announcement Harris wanted to impose government-controlled pricing on grocery stores in order to protect American consumers from grocery store price hikes, as Breitbart News reported.
Now critics are asking a valid question: Won’t every home-seller just increase their sale price by $25,000?
Reportedly, the money giveaway would only be available to individuals who have consistently paid their rent on time for at least two years, the report states.
Harris is expected to lay out the details in a speech in Raleigh, North Carolina Friday.
Details of VP Harris’ economic agenda being revealed this morning with a focus on taxes, healthcare, housing and food prices. Here’s Manhattan Institute’s Allison Schrager and Brookings’ Ben Harris on the issues facing voters. pic.twitter.com/QUaX2FPloo
— Squawk Box (@SquawkCNBC) August 16, 2024
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