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Kamala Harris Unveils $100 Billion Black Homeownership Plan

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Written by Christopher Cox

As reported through CNN – California Senator Kamala Harris unveiled a $100 billion plan to invest in black homeownership — a proposal the 2020 presidential candidate said that, if elected, would set in motion her broader plan to tackle the US racial wealth gap.

“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 said in a speech Saturday at the Essence Festival in New Orleans in what promises to be the beginning of a series of policy rollouts focusing on the black community.twitter.com Harris entered the room inside the Ernest N. Morial Convention Center to a standing ovation.

Speaking at the lectern, she greeted the majority black woman crowd cast in purple and yellow set lights with a proper welcome, “Good morning, my beautiful sisters.”Under Harris’ proposal, homebuyers who rent or live in historically redlined communities can apply for a federal grant of up to $25,000 to assist with down payments or closing costs. Harris’ campaign estimates that this will help up to 4 million families.

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About the author

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Christopher Cox

Christopher G. Cox has over 20 years of experience in the real estate and finance industries. He has understands the complexities and diversity of the real estate market, and he has a passion of helping people realize the American Dream.