She Strengthens

The Housing Crisis: A Key Issue in the 2020 Democratic Presidential Primary

As the cost of housing continues to skyrocket across the United States, the 2020 Democratic presidential candidates are proposing various measures to make housing more affordable for low-income renters.

A Growing Problem

In recent decades, the average income of renters has not kept pace with the rising cost of rent, leading to a shortage of 7.2 million homes for Americans in the lowest-income renter households. This has resulted in an increase in homelessness, with the Trump administration’s proposed cuts to housing assistance only exacerbating the issue. Racial disparities persist, with people of color disproportionately affected by the housing crisis.

Candidates’ Proposals

Several candidates have called for increased federal funding to build more houses, while others propose rent subsidies or rent control. Here’s a breakdown of the leading candidates’ plans:

Bernie Sanders: Housing for All

Senator Bernie Sanders’ proposal includes capping rent costs, providing funding for new housing construction, and levying taxes to combat real estate speculation. His plan aims to build nearly 10 million affordable homes, protect tenants by capping annual rent increases, and prioritize “25,000 National Affordable Housing Trust Fund units in the first year to house the homeless.”

Joe Biden: Investing in Affordable Housing

Former Vice President Joe Biden plans to invest $10 billion in revitalizing cities and providing affordable housing opportunities to those with criminal records. He also proposes giving first-time homebuyers a $15,000 down payment from the federal government.

Elizabeth Warren: American Housing and Economic Mobility Act

Senator Elizabeth Warren’s plan aims to reduce the cost of rent by 10%, close the racial wealth gap, and create 1.5 million new jobs. Her proposal includes providing federal funding to build more houses, tackling state and local land-use rules that drive up housing costs, and increasing the estate tax to fund her plan.

Michael Bloomberg: Doubling Federal Assistance

Former Mayor Michael Bloomberg’s plan includes doubling annual federal spending on assistance for the homeless, guaranteeing housing vouchers to Americans at or below 30% of the median income, and increasing the Earned Income Tax Credit and Child Tax Credit for low-income Americans.

Pete Buttigieg: Community Homestead Act

Mayor Pete Buttigieg proposes investing $430 billion to build or restore over two million units of affordable housing, reforming zoning laws, and enabling wealth accumulation through homeownership for low-income families who were disadvantaged by redlining.

Amy Klobuchar: Community Reinvestment Act

Senator Amy Klobuchar’s plan focuses on protecting tenants from housing discrimination, increasing the supply of affordable housing in rural communities, and strengthening rural rental assistance programs. She also proposes increasing the corporate tax rate to 25% and raising the capital gains rate to fund her plan.

Other Candidates’ Stances

Aside from the top six candidates, other contenders have clear stances on affordable housing. Billionaire Tom Steyer has a detailed plan to invest $47 billion per year in affordable construction and renovation, while Congresswoman Tulsi Gabbard has advocated for federal funding of affordable housing in the House of Representatives.

The Importance of Affordable Housing

Having a safe, affordable place to live is a basic human necessity. As the 2020 presidential election approaches, it’s essential for voters to understand how these candidates would address the housing crisis and make housing more affordable for those who struggle.