Source: Independent Institute
by Randall G Holcombe
“Presidential candidate and VP Harris has proposed giving first-time home buyers up to $25,000 to go toward their down payments, plus another $10,000 tax credit. If enacted, this proposal would raise the price of housing. The price of anything is determined by supply and demand. If demand increases with no change in supply, the price of that item will rise. If supply increases with no change in demand, the price will fall. That’s basic economics. Kamala Harris’s proposal would enable more people to enter the market to buy homes, and that increase in demand would raise the price of housing.” (09/13/24)
https://blog.independent.org/2024/09/13/kamala-harris-increase-housing-prices