PUBLISHED BY THE EL PASO ASSOCIATION OF BUILDERS : NATIONAL , STATE AND LOCAL HOME BUILDING INDUSTRY NEWS

Housing policy has become a central issue in housing construction , including streamlining the the upcoming presidential election , with both Vice permitting process for transit-oriented President Kamala Harris and former President development and office-to-residential conversions . Donald Trump offering proposals to address our Trump has indicated an interest in easing nation ’ s housing supply and affordability environmental and permitting rules , recognizing challenges . While both have put forward policies that regulatory compliance makes up a significant that would support homebuyers and expand the percentage of the cost of building new housing . In supply of affordable homes , their plans diverge his previous administration , he signed an significantly in key areas like housing finance , executive order to create the White House renter protections , and immigration . Here ’ s a look Council on Eliminating Barriers to Affordable at the housing proposals from each side .

Housing Development , whose report could guide

Helping Homebuyers his policy in a second term . Among a variety of

Both Trump and Harris have proposed tax suggestions , the report emphasizes the policies to support first-time homebuyers . Harris ’ importance of streamlining the federal plan includes $ 25,000 in down payment environmental review process for affordable assistance , with more generous subsidies for firstgeneration homeowners . This proposal goes manufactured housing .

housing and the need to improve the regulation of

beyond the $ 10,000 tax break proposed by the During his first term , Trump suspended and Biden administration . eventually repealed the Department of Housing

The Trump campaign remains less specific , and Urban Development ’ s ( HUD ) Affirmatively though the Republican platform emphasizes that Furthering Fair Housing ( AFFH ) rule , vowing to the party would “ promote homeownership through prevent low-income housing development in tax incentives that support first-time homebuyers .” suburban areas . He has reiterated this stance This could involve tax deductions for mortgage during the current campaign , promising to keep interest and mortgage insurance or tax credits . such developments away from suburban

Housing Supply neighborhoods . Harris has emphasized the need to increase the While HUD released an updated AFFH rule supply of homes for both sale and rent , under the Biden administration , it has yet to be establishing a goal of building three million new finalized . A second Trump administration would affordable homes over the next four years . She likely look to publish a revised rule with looser has supported proposals to expand the federal terms , in line with the 2020 rule on Preserving Low-Income Housing Tax Credit and create a new Community and Neighborhood Choice . tax credit to build or rehabilitate owner-occupied

Tenant Protections housing in lower-income communities — known as In response to claims that price-setting software the Neighborhood Homes Tax Credit . Her plan is facilitating collusion among landlords , Harris also includes a new tax incentive for developers has called on Congress to pass the Preventing building starter homes for first-time homebuyers . the Algorithmic Facilitation of Rental Housing Additionally , Harris has proposed a $ 40 billion Cartels Act , which would prohibit the use of fund to help local governments innovate in algorithmic systems to coordinate rental housing housing construction . prices .

With the proposals for expanding LIHTC and Meanwhile , the Biden administration recently creating a Neighborhood Homes Tax Credit proposed capping rent increases at 5 % for two enjoying bipartisan support in Congress , it is years for corporate landlords with more than 50 possible that a second Trump administration units , with the threat of revoking their access to would pursue these policies as well . Trump has depreciation deductions if they don ’ t comply . The also pledged to reduce regulatory hurdles to proposal includes exceptions for newly building new homes , and both campaigns have constructed properties and units that have put forth plans to make federally owned land undergone significant rehabilitation . Harris is likely available for housing development . to continue supporting this measure .

Zoning Regulations

The Trump campaign has not yet articulated Harris and Trump have both recognized the specific proposals on tenant protections . impact of zoning regulations on restricting the However , his administration implemented a supply of housing . Harris has pledged to “ take temporary eviction moratorium to keep Americans down barriers and cut red tape ” to accelerate housed during the coronavirus pandemic .

Housing Finance

Trump and Harris are likely to differ significantly on housing finance policies , particularly regarding the government-sponsored enterprises ( GSEs ) Fannie Mae and Freddie Mac and the Federal Housing Administration ( FHA ). Trump is expected to advocate for ending the conservatorship of Fannie and Freddie , a goal left unfinished during his first term . His administration would likely seek to build up capital for the GSEs in preparation for their eventual release from conservatorship . In contrast , Harris has not made any specific comments on this issue and is expected to maintain the current administration ’ s status quo approach .

Harris is also expected to continue the Biden administration ’ s use of Fannie Mae and Freddie Mac to promote homeownership through various initiatives and pilot programs . Under Trump , the Federal Housing Finance Agency would likely revisit the approach taken during his first administration , limiting or ending pilot programs at the GSEs that they believe go beyond their core mission of supporting the secondary mortgage market .

Limiting Investor Activity

Both Harris and J . D . Vance , Trump ’ s vicepresidential pick , have expressed concerns about institutional investors in the housing market . Harris has called for Congress to pass the Stop Predatory Investing Act , which would eliminate tax benefits for investors who own and rent out 50 or more single-family homes . Vance has echoed similar sentiments , stating that institutional investors have driven up housing costs by reducing the availability of homes .

Immigration and Housing

Trump and Vance have linked immigration policies to housing availability . Trump has proposed strict measures against unauthorized immigration , suggesting this would free up housing for U . S . citizens . He has promised to ban mortgages and end housing benefits for unauthorized immigrants and redirect those funds to house homeless veterans . Vance has also argued that reducing immigration would help lower housing costs for Americans by reducing demand for housing .

As the election approaches , housing policy will continue to be a key issue area , with voters evaluating these contrasting approaches to addressing the nation ’ s housing challenges .

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