Kamala was impressive during the Q&A.
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Harris proposal runs into the same exact problems Warren's does. It tries to fix a problem rooted in race and that was specifically targeted at a group, without mentioning race or that specific group. It sounds clever, but it doesn't hold up. Just like with affirmative action, the main beneficiaries will end up being white women, and by extension white families who weren't effected by redlining. There are some positives. The ten year min could help, although depending on how it's worded, you excluded those who were force out due to gentrification.
At the next debate there should be a lengthy discussion on housing policy. We need answers
Sen. Elizabeth Warren, a fellow 2020 contender, previously proposed providing down payment grants to first-time homebuyers in formerly red-lined, segregated and lower-income areas.
Me either.Or just give Reparations, but we all know how she feels about that. I don't trust nothing this woman says.
@Skooby
“According to Harris' campaign, she would help 4 million homebuyers through down payment and closing-cost assistance -- granting up to $25,000 from the Department of Housing and Urban Development.
The program would target residents in red-lined communities -- areas the Home Owners' Loan Corporation has dissuaded lenders from investing in -- which her campaign identified as a culprit behind wealth disparities.
- In order to qualify for the program:
- The grantee must be purchasing a principal residence.
- The grantee must have lived for at least the preceding 10 years in a historically red-lined community that remains low-to-moderate income.
- Grantee families cannot have an annual income of over $100,000 or $125,000 in high-cost areas.
- Grantee individuals cannot make over $50,000 or $75,000 in high-cost areas.
- The max grant is capped at either $25,000 or 20% of the loan value plus closing costs.
- The maximum home price to qualify for the grant is $300,000 for consideration of high-cost areas.
- Consistent with our more inclusive credit-calculation proposals below, an individual or family would need to demonstrate an ability to pay the mortgage with the lender.
Read more at Combatting the Racial Homeownership Gap | Kamala Harris For The People
“
Seems to be a global program not aimed at specifically black folks despite how it was presented. I wouldn’t qualify off income alone and probably 1 or 2 other factors. I have to read in more detail.
Harris proposal runs into the same exact problems Warren's does. It tries to fix a problem rooted in race and that was specifically targeted at a group, without mentioning race or that specific group. It sounds clever, but it doesn't hold up. Just like with affirmative action, the main beneficiaries will end up being white women, and by extension white families who weren't effected by redlining. There are some positives. The ten year min could help, although depending on how it's worded, you excluded those who were force out due to gentrification.
At the next debate there should be a lengthy discussion on housing policy. We need answers