How Harris’ housing plan lines up with Arizona’s crackdown on corporate landlords

Vice President Kamala Harris is taking her housing plan on the road this week, with events in Tucson and Tempe and a massive ad buy illustrating her vision to make the dream of buying a home reality for millions of people.

The Democratic nominee for US President unveiled her housing plan this week, along with a new TV spot that details a childhood memory of Harris’ as she watched her mother scrimp and save enough to buy a home. Harris then outlines how her time taking on corporate landlords as a prosecutor, and how she’ll continue that effort in the White House.

“Vice President Harris knows we need to do more to address our housing crisis,” said Dan Kanninen, the campaign’s battleground states director. “That’s why she has a plan to end the housing shortage: crack down on corporate landlords and Wall Street banks hiking up rents and housing costs.”

Tucson Mayor Regina Romero and Tempe Mayor Corey Woods plan to hold community gatherings this week to talk with voters about Harris’ new plan and how it would ease the burden of rent and increase home ownership in their respective cities.

The Harris Housing Plan

$25,000 down payment assistance program: 4 million first-time homebuyers who have paid rent on time for two years would qualify for $25,000 in down payment assistance. Arizona currently has a number of down payment assistance programs that can provide as much as $20,000, but are restricted by factors such as household income and property location.

Close tax loopholes for corporate landlords: Tax benefits available to property owners would no longer be available to large-scale investors and corporations that purchase single-family homes.

Ban algorithmic price-setting for rents: Over 400 apartment complexes in Arizona are currently under investigation for using data software to collectively raise rents and establish a statewide monopoly. Under Harris’ initiative, setting rents through data firms would be prohibited.

$40 billion housing innovation fund: Money would be set aside for housing grants that municipalities could apply for as a way to spur innovation and create new housing developments that best suit localities.

Increase housing supply: Jumpstart the construction of 3 million new homes across the country to alleviate the housing shortage, which, coupled with other aspects of Harris’ plan would be prioritized to sell to first-time homebuyers and local landlords that offer affordable rent.

Streamline development process: Outdated and unnecessary permits and building processes would be repealed in an effort to streamline the development process and increase housing supply.

Expand incentives for affordable rental units: Not everyone wants to own a home, but they also might not want a high-end, luxury apartment. Under a Harris presidency, businesses would receive tax incentives to build rental units that can be leased for affordable rates.

Incentivize starter home development: Instead of more luxury apartments, Harris’ plan would encourage the development of smaller, starter homes through tax incentives and other financial benefits for developers.