PROPERTY IS POWER! Kamala Harris’ housing strategy: A pathway to Black homeownership success

by Dr. Anthony O. Kellum In a bold move to address the housing crisis and empower first-time homebuyers, Vice President Kamala Harris has unveiled a comprehensive housing plan that promises to bring significant change, particularly for Black Americans aspiring to achieve homeownership. Announced during a campaign rally in North Carolina, Harris’ plan outlines a four-year strategy aimed at making homeownership more accessible through substantial downpayment assistance and expanded housing inventory. A Path to Homeownership: $25,000 in Downpayment Assistance At the core of Harris housing proposal is a provision to provide up to $25,000 in downpayment support to first-time homebuyers. This initiative is especially crucial for Black families, who have historically faced systemic barriers to homeownership, such as discriminatory lending practices and lower access to generational wealth. The assistance is designed for working families who have consistently paid rent on time for at least two years, with even more robust support available for first-generation homebuyers. This plan could be a game changer for Black homebuyers. The lack of downpayment funds is one of the biggest hurdles to owning a home, and Harris proposal directly addresses this issue. By easing the financial burden of a downpayment, more Black families could take the...