In a new round of campaign ads, former President Donald Trump and Vice President Kamala Harris are taking shots at each other over one of the nation’s most pressing issues: housing affordability. As the presidential race heats up, both candidates are bringing the housing crisis to the forefront of their campaigns, each with starkly different proposals.

Kamala Harris’s Housing Affordability Plan

Harris, the Democratic nominee for president, has made housing affordability a central focus of her platform. In her latest campaign ad, she introduces a range of proposals aimed at addressing the issue, including new tax credits and incentives to encourage the construction of affordable starter homes. Additionally, Harris is advocating for programs that would provide first-time homebuyers with assistance for down payments.

“For much of my childhood, my family rented our home,” Harris says in a voice-over during the ad, which was released last week. “It took my mother over a decade to save enough to buy a home. I remember how proud she was the day she finally made it happen. That memory sticks with me because today, the dream of homeownership is slipping away from far too many families.”

Harris blames what she refers to as “corporate landlords” for making the situation worse. She accuses these investors of buying up properties and renting them out at sky-high prices, preventing regular Americans from becoming homeowners. The ad also touches on her support for a federal bill that would eliminate certain tax incentives for investors purchasing large quantities of single-family homes.

Furthermore, Harris pledges to build 3 million new homes during her first term if elected. Her ad is targeting swing states like Nevada and Arizona, where housing affordability is a particularly significant issue, with prices far exceeding the national average.

“Vice President Harris understands the urgency of the housing crisis,” said Dan Kanninen, Harris’s campaign battleground states director, in a statement to the Associated Press. “That’s why she has a comprehensive plan to address the housing shortage, and she’s ready to take on corporate landlords and Wall Street banks that are driving up rents and housing costs.”

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Trump’s Response and Criticism of Harris

Just a day after Harris’s ad aired, the Trump campaign launched a counterattack with its own housing-focused ad, which criticized Harris for failing to address the crisis during her time as vice president. The Trump ad predominantly features news clips that emphasize the sharp increase in home prices and mortgage rates over recent years. Both Trump and his running mate, Senator J.D. Vance, question why Harris hasn’t already taken significant action.

“Kamala’s Day One was over three years ago,” Trump states in the ad, suggesting that Harris has squandered her time in office without making meaningful progress on housing.

Vance echoes the sentiment: “What has she been doing all this time?”

Trump also took the opportunity to respond to Harris on social media platform X (formerly known as Twitter). After Harris posted about her plan to offer first-time homebuyers up to $25,000 in down payment assistance, Trump responded by sharing a screenshot from a Fox News segment that highlighted a 39% increase in median home prices from January 2021 to June 2024.

While this increase doesn’t fully account for seasonal variations—home prices typically peak in June—the numbers still paint a stark picture. From January 2021 to January 2024, home prices rose by a staggering 23%, putting homeownership out of reach for many Americans.

A Battle of Housing Solutions

These dueling campaign ads spotlight the stark differences in how each candidate approaches the housing crisis. Harris is advocating for bold federal action, while Trump is using his opponent’s incumbency to pin the blame on the Biden-Harris administration.

While Harris has proposed sweeping initiatives, many of the details remain unclear. For example, her plan to provide $25,000 in down payment assistance for first-time buyers is still lacking specifics. It is not yet known who would qualify for the assistance or whether the funds would be provided upfront or as a delayed tax credit.

Some economists have raised concerns that Harris’s proposal could unintentionally push home prices even higher. They argue that providing direct assistance to buyers without simultaneously addressing the supply side of the housing market could exacerbate the affordability problem. However, Harris’s campaign has suggested that her plan will also include incentives for new home construction to balance supply and demand.

In contrast, Trump, whose background as a real estate mogul has shaped much of his perspective on housing, has largely focused on the pain that homebuyers are experiencing as a result of rising prices and mortgage rates. He has frequently pointed to Harris and President Biden as the culprits, arguing that their policies have failed to contain the crisis.

Trump’s solution to lowering housing costs includes halting illegal immigration, which he claims has driven up housing demand, and releasing federal land for new construction. He also believes he can apply pressure on the Federal Reserve to lower interest rates. The central bank is already expected to cut rates in the fall as inflation has been brought down below 3%.

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The Road Ahead: Housing at the Forefront of the Debate

The debate over housing affordability is poised to play a central role in the upcoming presidential race. As home prices have surged and mortgage rates have climbed, millions of Americans are finding it harder to afford a place to live. Both Trump and Harris are offering competing visions for how to tackle the crisis, but their contrasting approaches reflect the broader ideological divide between the two parties.

With the two candidates set to debate on September 10, housing is likely to be one of the key issues on the table. It’s the only debate for which both sides have agreed, and it could provide voters with a clearer sense of how each candidate plans to address the affordability problem that is squeezing American families nationwide.

As the race continues, the question remains: who will voters trust to fix the housing crisis? Will it be Harris, with her comprehensive federal intervention plan, or Trump, who promises to lower costs through deregulation and economic policy adjustments? Only time—and the election—will tell.

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