Chen agreed that adding supply was the best part of Harris’ plan.
“There’s bipartisan support for repurposing federal lands for the construction of affordable housing, and the concept of creating the right tax and economic incentives for builders to construct more new housing,” Chen said. “I have some concerns about how these incentives will be targeted but there’s no question that these ‘supply-side’ reforms are long overdue.”
Former President Donald Trump has also touted using federal land to help alleviate the housing shortage.
“We’re going to open up tracts of federal land for housing construction,” he said in a news conference Thursday. “We desperately need housing for people who can’t afford what’s going on now.”
Furthermore, the party will “reduce mortgage rates by slashing inflation” and “promote homeownership with tax incentives and support for first-time buyers and cut unnecessary regulations that raise housing costs,” according to the program of the Republican National Committee.
Professor of economics Jeffrey Zabel of Tufts University expressed cautious optimism on Harris’ proposal. Making the pledge a reality, he acknowledged, will not be easy.
Zabel remarked, “While this is a positive step, let’s wait and see what they can actually implement.” Making these suggestions is one thing; putting them into practice is quite another. Furthermore, much more work needs to be done to restore equilibrium in the housing supply even if they are successful in completing this.
Other stories
My performance at the introduction of the NDC youth manifesto was commercial, not promotional. — OliveTheBoy
Church tithing: Prophet Stephen Adom Kyei urges Bible-centered ministry
I searched for a mortuary at night while driving with my dead baby in a box – MOGmusic
Church tithing: Prophet Stephen Adom Kyei urges Bible-centered ministry
I’m an illiterate but very smart – Agya Koo to critics
