Kamala's Plan WILL Kill The Housing Market

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Kamala Harris' plan to give homebuyers down payment assistance is going to do one thing, and one thing only: ramp up demand for housing even further. This scenario could accelerate appreciation and actually WORSEN home affordability for Americans – especially in markets where inventory is more stable.
And as we’ve talked about before – there’s not a candidate in the world who can singlehandedly make sweeping changes in the housing market. Because at the end of the day, this housing issue, at its core, is a problem with supply and demand. Do not fall for this! Talk about fixing the affordable housing crisis is nothing but pandering.
Although this housing shortage issue has certainly worsened in recent years, this problem has been brewing for years, if not decades. I want to remind you that just as there’s not one main cause of the affordable housing crisis, there’s also not one single solution.
Things like lower rates will help, adding supply to the market will certainly provide some relief, and of course some relief may come as the lock out effect weakens… but there’s just not ONE solution that is going to alleviate lack of supply at this level. The housing market is short millions of units; that cannot change overnight, or even within a four-year presidency. The federal government has a terrible track record of dealing with housing issues, and I wouldn’t expect that to change anytime soon.

Blog post on Adjustable Rate Mortgages: https://morrisinvest.com/blog/2024/5/31/massive-increase-in-mortgage-payments-causing-americans-to-brace-for-financial-ruin/
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