Kamala Harris’ Plans to Shake-up Housing Market [Video]

President Joe Biden and Vice President Kamala Harris have announced measures to boost the construction of new homes across the U.S. and make them more affordable, including $100 million in community grants to identify and remove barriers to affordable housing production and preservation.

The new measures, which include expediting housing permitting and providing greater interest rate predictability for state and local housing finance agencies, are the first major housing policies to be announced since Harris’ became the Democratic Party’s presidential nominee. Newsweek contacted Harris’ 2024 campaign for comment by email outside usual working hours.

The U.S. housing market could become an important issue in the 2024 election, as affordability is near an all-time low in the country, and many are struggling to get on the property ladder. According to Freddie Mac, the country needs at least 1.5 million more homes to relieve the national housing shortage.