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VP’s offer to first-time buyers risks fuelling the housing crisis
(2019)Jaime Luque
ABSTRACT
Is Kamala Harri´s housing plan just another recipe for higher home prices?
My latest piece featured in the Financial Times, challenges the prevailing wisdom behind first-time homebuyer subsidies. While these policies may sound like a lifeline, they can actually drive home prices even higher in today’s tight market.
In the letter, I dissect Harris’s proposals and make the case for a different approach: instead of inflating demand, we need to supercharge housing supply. Tax incentives for developers, as I argue in my book “Affordable Housing Development” (Springer), are the real key to lowering prices and making homes affordable again.
Read the full letter in the Financial Times and join the conversation. Are we on the right track, or just repeating the same mistakes?
KEYWORDS
Housing Crisis; Affordable Housing; Real Estate; Housing Policy; FinancialTimes
DISCIPLINES
Urban Studies and Planning
PUBLICATION DATE
August 21, 2024
CITATION INFORMATION
Jaime Luque. "VP’s offer to first-time buyers risks fuelling the housing crisis" Financial Times (2024)
Available at: http://works.bepress.com/luque/90/
CREATIVE COMMONS LICENSE
Creative Commons License This work is licensed under a Creative Commons CC_BY-NC-ND International License.