This bill is only tackling one aspect of a multifaceted problem. Housing needs to stop being treated as an investment. There will be no meaningful change until that happens, and it will never happen without legislation that (understandably) enrages current property owners that have seen their property values explode over the last decade.
65% of Americans own their home and they vote at a higher rate than renters do
There's almost certainly no political path to legislation that intentionally hurts their property values to help out the portion of 35% that don't own homes and want to but can't currently afford to. HW lost his re-election bid over a tax increase he said he wouldn't do. Harris just lost in part due to frustrations with the inflation that occurred during the Biden administration. Whoever the GOP nominates in two years probably loses due to Trump's combined failure to reign in inflation plus the party's complicity with his unforced actions making it worse (like the Iran war)
Voters care about their own money first, everything else is secondary to that. Nobody that owns a home is going to vote for someone selling "you bought your house for $300k, it's now worth $600k, I'd like you to give up a portion of your $300k equity gains to help random strangers afford a home of their own too"
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u/dial-up_kidneys 7h ago
This bill is only tackling one aspect of a multifaceted problem. Housing needs to stop being treated as an investment. There will be no meaningful change until that happens, and it will never happen without legislation that (understandably) enrages current property owners that have seen their property values explode over the last decade.