Housing may not play a major role once the Democratic nominee starts campaigning directly against President Trump. But in the lead-up to the Democratic primaries it is an issue that most candidates are eager to discuss.
Multiple candidates, including Senators Cory Booker, Kamala Harris and Elizabeth Warren, have released detailed plans showcasing how they would tackle the trouble many Americans face when looking to find a home to rent or to buy.
Others such as Sen. Bernie Sanders have brought up the issue of affordable housing in stump speeches and during town halls and televised debates.
“For the first time in recent memory, affordable housing is a topic on the presidential campaign trail,” said Diane Yentel, president and CEO of the National Low Income Housing Coalition.
Some 85% of Americans “believe ensuring everyone has a safe, decent, affordable place to live should be a top national priority,” according to a nationwide public-opinion poll commissioned between the National Low Income Housing Coalition and Hart Research Associates
A majority of people from both the Democratic and Republican parties said they held this view, the poll said. “Given this strong public sentiment, it’s no wonder that policy makers are increasingly heeding the call,” Yentel said.
But the primary calendar itself may be largely the cause of candidates’ enthusiasm, said Rick Sharga, a mortgage-industry veteran.
“California — perhaps the epicenter of unaffordable housing — is scheduled to have its primary earlier than in past election cycles, and voters in the Golden State will very likely pay more attention to the affordable housing proposals being presented by the Democratic hopefuls than voters in many other states,” Sharga said.
The following Democratic candidates did not respond to requests for comment from MarketWatch, nor have they released plans nor spoken extensively about issues surrounding housing: Former Vice President Joe Biden, hedge-fund billionaire Tom Steyer, Rep. Tulsi Gabbard from Hawaii, Gov. Jay Inslee of Washington state, Gov. Steve Bullock of Montana, former Rep. Joe Sestak from Pennsylvania.
Here’s what other Democratic candidates are saying about affordable housing:
Sen. Elizabeth Warren
As she has done on other issues, such as student debt, Elizabeth Warren, the senator from Massachusetts, has released a detailed plan to tackle a wide variety of housing-related issues.
“Housing is not just the biggest expense for most American families — or the biggest purchase most Americans will make in their lifetimes,” the Warren campaign said in a post to the site Medium. “It also affects the jobs you can get, the schools your children can go to, and the kinds of communities you can live in. That’s why it’s so important that government gets housing policy right.”
To that end, Warren has introduced the American Housing and Economic Mobility Act, which serves as the backbone of her affordable housing plan:
Warren’s plan includes, among other things:
• Building, preserving or rehabilitating 3.2 million housing units nationwide for lower- and middle-income people in order to lower rents by 10%. This, she said, would be funded by raising the estate tax back to Bush-era levels.
• Creating a down-payment assistance program designed to address the black-white homeownership gap by providing assistance to first-time home buyers who live in a formerly red-lined neighborhoods or communities that were segregated by law and are still currently low-income.
• Expanding fair-housing legislation to bar housing discrimination on the basis of sexual orientation, gender identity, marital status, veteran status or income.
• Extending the Community Reinvestment Act to require non-bank mortgage lenders invest in minority communities.
• Providing $2 billion in assistance to mortgage borrowers who are still underwater on their home loans following the financial crisis, meaning they owe more than their homes are worth.
• Instituting new requirements for sales of delinquent mortgages .
Sen. Cory Booker
In a post describing his broad plan to expand access to affordable housing, Cory Booker’s campaign called housing “a basic need and a basic right.” Here’s what the junior senator from New Jersey’s plan includes:
• Creating a tax credit that would aid in capping rental costs at 30% of before-tax income.
• Implementing zoning reform by requiring cities to eliminate restrictive zoning rules to qualify for federal loan and grant programs.
• Funding the construction of new housing units designated for low-income renters by providing $40 billion a year to the Housing Trust Fund.
• Expanding fair-housing laws to prohibit housing discrimination on the basis of sexual orientation, gender identity or source of income.
• Expanding access to federal housing assistance programs.
• Creating a fund that would pay for legal counsel for renters facing eviction.
• Increasing the amount of money designated for grants given to communities to administer homelessness services.
• Giving $1,000 baby bonds to every child at birth, which can grow by up to $2,000 per year depending on the family’s income. This money could then be used to fund the down payment on the purchase of a home.
Sen. Kamala Harris
Earlier this month, Kamala Harris, the junior senator from California, released an extensive plan designed to increase the homeownership rate in black communities. This plan involved:
• Expanding the range of information used to create credit scores to include data such as rent and utility payments
• Setting aside $100 billion for federal grants that would help with down payments or closing costs for families who rent or live in historically redlined communities
• Strengthening anti-discrimination laws to prevent discrimination in home sales, rentals and mortgage lending
Additionally, Harris has introduced the Rent Relief Act, which would create a refundable tax credit for households who make less than $100,000 a year (or $125,000 in pricier areas) and spend at least 30% of their income on housing costs.
The Harris campaign did not return a request for comment.
Mayor Pete Buttigieg
Mayor Pete Buttigieg from South Bend, Ind. has put forth an extensive proposal, called the Douglass Plan, to address racial disparities in homeownership and wealth. The plan would create a “21st Century Community Homestead Act” that would be piloted in select cities across the country.
Through this program, a public trust would purchase abandoned properties and provide them to eligible residents. These people would include those who earn less than the area’s median income or those who live in historically redlined or segregated areas. Residents who participate would be given full ownership over the land and a 10-year forgivable lien to renovate the home so it could be used as a primary residence.
Separately, Buttigieg has also suggested some other, broad steps his administration would take to address housing issues nationally
• Funding national investment in affordable housing construction
• Reforming land use rules to make it easier to build affordable housing units
• Expanding federal protections for tenants against eviction and unjust harassment
Sen. Bernie Sanders
Bernie Sanders’ campaign didn’t return a request for comment and does not detail a specific plan regarding housing issues on its website. However, the Independent senator from Vermont has spoken extensively about Americans’ struggles to secure affordable housing.
Affordable housing is one piece of Sanders’ proposal for an “Economic Bill of Rights.” During a campaign speech, Sanders claimed that some Americans are “paying 40%, 50%, 60% of their limited income in housing” and called the situation “absurd.” Sanders has further referenced urban gentrification as an issue that needs to be addressed.
In the first Democratic presidential debate, Sanders also mentioned the country’s homeless population in response to a question about his calls for expanded government benefits.
Former Secretary of Housing and Urban Development Julián Castro
Naturally, as the former HUD Secretary under President Obama, Julián Castro has put forth an extensive plan for housing. Among the many ideas he suggested, Castro proposed:
• Expanding the housing choice voucher program.
• Creating a refundable renters’ tax credit for households who spend more than 30% of their income on housing.
• Allocating an additional $45 billion annually for the national Housing Trust Fund and the Capital Magnet Fund to support affordable housing initiatives.
• Reforming zoning laws to encourage the construction of affordable housing.
• Addressing homelessness by expanding funding for grant programs and creating a definition of homelessness at the federal level.
• Extending fair-housing protections to the LGBTQ community and to individuals who were previously incarcerated.
• Developing an approach to identify where gentrification is occurring and help households avoid being displaced.
• Establishing zoning policies that take into account climate change.
Sen. Amy Klobuchar
Sen. Klobuchar from Minnesota has included multiple housing-related initiatives as part of her outline of more than 100 actions she plans took take in her first 100 days in office, if she is elected. They include:
• Reversing the Trump administration’s proposed changes to federal housing subsidies.
• Expanding a pilot program that provides mobility-housing vouchers to families with children to help them relocate to higher opportunity neighborhoods.
• Suspending changes to fair housing policy ushered in by HUD Secretary Ben Carson in order to combat segregation in housing.
• Overhaul housing policy more broadly as part of a national infrastructure plan.
John Hickenlooper
In putting forth his housing plan, campaign of John Hickenlooper noted the work he did during his times as governor of Colorado and mayor of Denver to increase access to affordable housing.
“Hickenlooper understands that we need housing in a range of price points so that everyone can benefit from economic growth without feeling squeezed with record-high housing expenses,” the campaign said in a statement provided to MarketWatch.
The former governor of Colorado’s housing plan includes:
• Increasing the investment in HUD’s affordable housing programs.
• Reinstating Obama-era rules that help people qualify for and afford FHA loans.
• Creating a renter tax credit of up to $5,500 per year.
• Establishing new incentives for developers at the federal level to encourage increased housing density and diversity.
• Doubling the Low-Income Housing Tax Credit to incentivize communities to build more housing for low-income Americans.
Andrew Yang
Attorney and entrepreneur Andrew Yang’s campaign did not return a request for comment. On its website, he calls for revisiting zoning rules by “taking the needs of renters and those who would be interested in moving into areas into account.”
Former Rep. Beto O’Rourke
The former Texas congressman’s campaign did not respond to MarketWatch’s request for comment, but previously told Vice News that he wants to increase the funding devoted to the national Housing Trust Fund.
Sen. Kirsten Gillibrand
During a July campaign event in New Hampshire, New York Sen. Kirsten Gillibrand proposed a $50 billion investment each year in the national Housing Trust Fund. She also said she would choose a HUD secretary “who understands the nature of homelessness as well as affordable housing.” Gillibrand’s campaign did not return a request for comment.
Rep. John Delaney
During a CNN T, +0.63% Town Hall, Rep. John Delaney from Maryland said there was an affordable housing crisis in the U.S. when asked about the rising cost of living across the country. “We need to put more resources behind affordable housing,” he said.
To that end, Delaney has a proposed a $125 billion affordable housing plan which would do the following:
• Increase funding for the Housing Trust Fund to at least $7 billion annually.
• Create a $5 billion affordable-housing grant program that provides funding to states and municipalities that jettison zoning restrictions limiting the construction of affordable multifamily housing.
• Establish a right to counsel in eviction procedures, accompanied by $500 million in federal funding for low-income renters’ legal representation.
• Upping the funding for the Homelessness Assistance Grant program and the Department of Veterans Affairs’ Grant and Per Diem account.
Additionally, Delaney released a draft of legislation co-coauthored by Rep. Jeb Hensarling, a Republican from Texas, in 2018 that would:
• Revoke the charters held by secondary-mortgage market giants Fannie Mae FNMA, -11.49% and Freddie Mac FMCC, -10.43% over five years and, instead, establish a government guarantee on mortgage through the Government National Mortgage Association (Ginnie Mae).
• Require borrowers to put at least 5% down to get a mortgage.
Sen. Michael Bennet
Last year, Colorado’s Sen. Michael Bennet introduced legislation to combat evictions by creating a national database to track instances of eviction and giving money to local and state programs that would increase tenants’ legal representation. The Bennet campaign did not return a request for comment, and its website does not lay out any specific housing-related policies though it does identify affordability as an issue.
Marianne Williamson
Author and speaker Marianne Williamson’s campaign did not respond to a request for comment. She has not released a housing-specific plan, but did call for protecting homeowners from predatory lending practices and increasing access to loan modifications for distressed mortgage borrowers as part of a broader economic plan.
This story was updated on July 26, 2019.