Harris Releases $100 Billion Plan To Help Minorities Buy Homes

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White House hopeful Sen. Kamala Harris (D-Calif.) released a $100 billion plan to invest in black homeownership Saturday, saying the proposal was one step toward closing the overall racial wealth gap.

Harris cited a study saying eliminating racial disparities in homeownership could boost the median black wealth by $32,113 per household and shrink the wealth gap between black and white households by 31 percent. The plan would have similar impacts for Hispanic households.

The plan would establish a $100 billion-dollar grant through the Department of Housing and Urban Development, of which up to $25,000 can be given to families or individuals to help with down payments and closing costs. Harris’s campaign said the grant could benefit up to 4 million families.

“So we must right the wrong and, after generations of discrimination, give black families a real shot at homeownership, historically one of the most powerful drivers of wealth,” Harris told the Essence Festival on Saturday in New Orleans.

Read more at The Hill.

{Matzav.com}

12 COMMENTS

  1. Who is eligible?
    Can one self-identify as black? Does one need a DNA test?
    Can I move to Mexico for a year and learn Spanish to qualify as Hispanic?

    Givers vote Republican / Takers vote Democrat
    FOR FREEDOM: Vote Republican! / FOR FREE STUFF: Vote Democrat

  2. I have grandkids that hold both American and S. African passports. Does that make them African Americans, with all entitlements?

  3. Affirmative action will be the rule of the land if the democrats take over. The evil white middle class man will finally get what’s coming to them. Reparations to follow.

  4. My parents are Moroccan. I was born in the US. Am I african american? Having an identity crisis here.

  5. Way to go. I seriously hope the Democrats keep spouting this nonsense, because if they do it will be Trump 2020 all the way.

  6. The Affordable Housing Act of 1989 mandated the lending to first time home buyers. It also lowered the standards for which Fannie Mae mortgages cou8ld qualifies,. This resulted in $1 trillion dollars worth of sub-prime mortgage loans being made. The default rate on these loans was huge and caused the economic crises of 2008.

    Kamala Harris , no different than any of the President6ial candidates is totally ignorant of recent history or of any other academic discipline for that matter, save only the recent scientification of racial victimology of which she is a self-proclaimed expert.

    Her latest proposal, if actually implemented will eventually spiral into another acute financial crises in the future.

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