Kamala Harris proposes $100 billion plan for black homeownership [View all]

[brooklynite]

Politico

Kamala Harris, calling on the nation to “deal with the racial wealth gap,” on Saturday proposed a $100 billion federal program to help black people buy homes.

The California senator said the plan, which would provide down payment and closing cost assistance of up to $25,000 to people renting or living in historically red-lined communities, would help some 4 million home-buyers.


Black voters are a critical constituency in the Democratic primary, especially in the South.

Harris, speaking at the Essence Festival in New Orleans, said her program would “put homeownership within the reach” of millions of families.

“A typical black family has just $10 of wealth for every $100 held by a white family,” she said. “So we must right that wrong and, after generations of discrimination, give black families a real shot at homeownership — historically one of the most powerful drivers of wealth in our country."

Harris’ housing program would come in the form of U.S. Department of Housing and Urban Development grants limited to families with incomes up to $100,000, or $125,000 in high-cost areas.

Much smarter than talking about Reparations.