[ [link removed] ]Katie Porter for Senate



Today I’m releasing my Housing for All plan—to urgently build more homes,
bring down and stabilize rental costs, and increase homeownership
opportunities for Californians.

Housing is the top issue for Californians, but career politicians in
Washington have been too slow to provide solutions. I saw this firsthand
as a consumer protection attorney on the front lines of the foreclosure
crisis, and now as a parent who doesn’t want my kids to leave California
just because they can’t afford to live here. My Housing for All plan is
below—[ [link removed] ]if you’d prefer to watch me break it down on my whiteboard, click
here.

 1. Create a Select Committee on Housing: Despite a decades-long housing
crisis, Congress has no committee solely focused on increasing housing
and reducing costs. I’ll create and lead a committee that delivers the
housing solutions that California’s communities and families need, not
just what boosts Wall Street’s profits.

 2. Urgently increase the supply of homes for purchase: It’s virtually
impossible to develop starter homes profitably and at scale, so I’ll
push for improved tax credits and government loan guarantees, which
will spur Wall Street to provide financing for homes that working
people can actually afford.

 3. Washington must close the housing gap for low-income families: High
costs push people into homelessness or housing instability. We should
fully fund housing rental vouchers for the most severely
housing-burdened families. To address the wealth inequalities that
limit first-time homeowners, particularly people of color, we should
make a federal investment in tools like down payment assistance and
interest rate buy-downs.

 4. Unleash private capital for home construction: In the 1930s, Congress
established government-sponsored enterprises (today known as Fannie
Mae, Freddie Mac, and Ginnie Mae) to connect Wall Street capital to
everyday Americans, who previously could not get mortgages. The result
was a rocketing homeownership rate. We should expand these structures
to guarantee the construction of one-to-four unit starter homes. With
strong oversight, these agencies can tap into global capital markets
to scale up the construction of modest-density homes that working
people can afford to buy.

 5. Break down local barriers: Solving the housing crisis requires all
levels of government to engage. I’ll give incentives to communities
that make it cheaper to build all the kinds of housing Californians
need. Costs go up when cities require certain home styles or building
materials, or impose oppressive rules like mandatory parking
requirements.

 6. Unlock government land: I’ll press federal, state, and local agencies
to release large swaths of buildable land that they own.

 7. Encourage innovative homebuyer programs: Innovative mortgage lending
programs can stop house prices from spiraling out of control. I’ll
make it easier to form “land trusts,” in which communities and
homebuyers share in the value of home appreciation. The land trust’s
share of the appreciation is then used to lower entry costs for future
homeowners in the development, creating a virtuous cycle of affordable
homeownership for the future.

 8. Develop leases for Californians with fixed incomes: I’ll support new
kinds of leases that help Californians who aren’t served well by
traditional rental agreements. Seniors should be able to put down a
small portion of their retirement savings in exchange for locking in
long-term rental rates that don’t outpace Social Security’s cost of
living adjustments. We should also develop a government-backed program
for four-year leases that allow college students to lock in rental
costs during their time in college.

 9. Invest in modern home manufacturing technologies: We have been
manufacturing homes the same way for decades. I’ll make it easier for
builders to develop and use the latest manufacturing techniques, like
3-D printed homes, which can reduce the cost of producing homes by 30%
or more, and create high-paying, union jobs. These modern techniques
are energy-efficient and use climate-resilient materials.

10. Protect homebuyers from Wall Street greed: Increasingly, Wall Street
firms are buying up houses, driving up rental prices and preventing
families from buying a home. I’ll tax firms that buy up large numbers
of homes so that we put an end to this trend.

[ [link removed] ]Can
you please be one of the first people to endorse this plan?

[ [link removed] ]Endorse Katie’s Housing For All Plan

I’ve made housing the top issue of my campaign since day one because
Californians can’t wait any longer. Washington must act, and I’ll lead the
fight to get this done. I’m so grateful to have you on our team.

Katie Porter

P.S. I have no problem standing up to Wall Street to get this done because I
don’t take a dime from corporate PACs or Big Bank CEOs. I will only be elected
to the U.S. Senate because of grassroots support, and so anything you can give
today will be especially meaningful.



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