Kamala Harris has a $100 billion plan to give blacks downpayment on homes.
2020 Democratic presidential candidate Kamala Harris introduced a $100 billion plan Saturday to help black people buy homes.
The California senator discussed the plan at Essence Fest, hosted by Essence Magazine, in New Orleans while calling on the nation to “deal with the racial wealth gap,” Politico reported.
The program would provide up to $25,000 in the form of grants from the Department of Housing and Urban Development (HUD) to help pay down payments or closing costs. The grants would help an estimated 4 million individuals or families who make up to $100,000, or $125,000, respectively, and are looking to rent or buy homes in high-cost areas.
“A typical black family has just $10 of wealth for every $100 held by a white family,” Harris told her audience at the festival. “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.”
I’m so old that I remember when the last attempt to put people into houses they couldn’t afford went awry; when was that, eleven years ago? The lesson that should have been learned then, but obviously wasn’t, was that owning a nice house in a good neighborhood doesn’t automatically instill habits of thrift, hard work and a culture that values both. Rather, the house is the result of those virtues, not the cause. Harris and her friends are really no more sophisticated or knowledgable than the most primitive Pacific Island cargo cult, and the results of their efforts will be just as futile though, to be fair, the islanders never stole $100 billion from their neighbors to fund their fallacy. .