Harris campaign suggest investing in construction of three million affordable homes and rentals
HOUSTON, Texas - A new ad from the Kamala Harris campaign promises to build three million new, affordable homes if she's elected.
The Struggle for Affordable Housing in the U.S.
A new ad from the Kamala Harris campaign promises to build over 3 million new afforadable homes if she is elected to address the affordable housing shortage crisis. Fox 26's Tom Zizka takes an in depth look into the challenges of finding aforadable housing.
The Census reports the median new home sales price, in July, was almost $430,000. A shortage of affordable homes in an ongoing problem, and making the 'American Dream' of homeownership a reality for more people won't be easy.
Krystal Evans is still finding places to put everything in her new home, in Acres Homes, after years of searching and saving, "It's a big undertaking, but at the same time, it's like this is what you've been working hard for." The process of finding something affordable left a lot of anxiety. "I honestly believe that is what many Americans are struggling with: It's not a matter of them not wanting the home; it's can we get into the home and can we stay in the home," says Evans.
Johnny Hollins specializes in building affordable housing in some of Houston's neediest neighborhoods. "250 to 300-thousand (dollars) is affordable housing, now, but only about 40% of Americans can afford that," he says.
Hollins first started developing the Acres Home property in late 2020. Now, 44 homes are all sold, as demand continues to outstrip availability. But costs keep going up. Hollins says material, labor, and land have all more than doubled in cost, in recent years... which is discouraging for a lot of builders. "If you're doing affordable housing, it's got to be something you're passionate about, not about making money," he says.
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To build millions more would take a concerted effort and cooperation that does not, currently, exist. The Harris campaign has suggested incentives for builders who specialize in first-time buyers and rental properties, and for municipalities to remove regulations that prevent additional construction. Johnny Hollins says it would be a start. "In order to make that work, you're going to have to have a collective effort, mainly from city government with the permitting process," he says, "In Houston, it may take a year to get a set of plans approved."
Outside the politics and cost of making such a plan work, another factor to making homes more affordable will be in making them smaller. Right now, the median size for a new home is just over 2,100 square feet. Hollins imagines something closer to 1,500 square feet, on smaller lots, that could satisfy the needs of a first-time buyer.