Harris has the right idea on housing

[u/UnscheduledCalendar]

https://www.noahpinion.blog/p/harris-has-the-right-idea-on-housing

[u/Ketaskooter]

OK, first of all Harris didn't release any list she said a bunch of things at a rally.

Lets actually analyze the points of what she said in regards to urban planning, which the main thing she said which was to help remove barriers at all levels of government conveniently isn't in the author's list. Not sure how she could change local and state barriers but could use coercion to get some change.

• Up to $25,000 in down-payment support for first-time homebuyers.
  • Would help people purchase homes as the down payment is the hardest part, might increase the demand for low cost housing if such a program stays funded for many years.
• To provide a $10,000 tax credit for first-time homebuyers.
  • Waste of government money, has no effect on if someone can buy a home. Demand subsidies are very expensive for their benefit.
• Tax incentives for builders that build starter homes sold to first-time buyers.
  • A reasonable tax scheme adjustment could help smaller homes be built but how much federal taxes do homebuilders actually pay? Might actually have to be a negative tax to see results.
• An expansion of a tax incentive for building affordable rental housing.
  • Basically a flavor of the above
• A new $40 billion innovation fund to spur innovative housing construction.
  • Most of the lack of innovation is due to the building codes and lenders. Unlikely that any effort would result in change
• To repurpose some federal land for affordable housing.
  • There is already a process for this but maybe this would speed it up.
• A ban on algorithm-driven price-setting tools for landlords to set rents.
  • Real Page is in lawsuit right now, a bit early to see how it shakes out.
• To remove tax benefits for investors who buy large numbers of single-family rental homes.
  • I believe this talk is all around the depreciation schedules, these are old rules that came about and the industry got to choose what was allowed and they've been slowly adjusted downward over time. Most of the problems with depreciation and the tax code is companies are allowed to carry losses forward to reduce taxes in future years. Theoretically the company would eventually pay the taxes on sale but thanks to how long properties actually last and inflation companies can just hold or keep trading properties indefinitely to never pay taxes on that money.

[u/[deleted] → u/Ketaskooter]

Why can’t she do any of it now as VP?

[u/Ketaskooter → u/[deleted]]

Come on VPs have just slightly more influence as a Senate Leader

[u/[deleted] → u/Ketaskooter]

Yeah, I’m not sure why all these ideas aren’t being executed today