RFK Jr. suggests 3% mortgages, blames corporations for worsening housing crisis.
Robert F. Kennedy Jr. has an ambitious plan if he becomes president. He wants to create a 3 percent mortgage for Americans, guaranteed by the government and funded by tax-free bonds. But that’s not all. He also wants to make it less profitable for large corporations to own single-family homes in the United States.
At a recent town hall in Spartanburg, South Carolina, Mr. Kennedy explained his vision. He said, “If you have a rich uncle who co-signs your mortgage, you will get a lower interest rate because the bank looks at his credit rating. I’m going to give everyone a rich uncle, and his name is Uncle Sam.” He even plans to reserve the first 500,000 of those 3 percent mortgages for teachers.
Mr. Kennedy’s presidential campaign is focused on “healing the divide” and “restoring the middle class.” He has been traveling around South Carolina, engaging with voters and sharing his ideas.
During his speeches, Mr. Kennedy has been critical of both President Trump and President Biden, arguing that the country is not experiencing the prosperity they claim. He has witnessed people living in desperation and believes that something needs to change.
Soaring Costs and Debt
One of the issues Mr. Kennedy highlights is the rising cost of living. He points out that food prices, credit card debt, and energy costs have all increased. Additionally, there is an affordable housing crisis.
He believes that the federal government can help people without driving up the debt. One of his priorities is to make it easier for Americans to buy single-family homes without competing against institutional investors.
According to a Wall Street Journal report, corporations have been aggressively buying single-family houses, driving up rental prices. Mr. Kennedy sees this as a threat to the American dream and places blame on companies like BlackRock, State Street, and Vanguard.
Mr. Kennedy is not alone in his concerns. Ohio entrepreneur Vivek Ramaswamy, a Republican presidential candidate, has also criticized these companies, calling them “arguably the most powerful cartel in human history.”
Economic Struggle
Mr. Kennedy recently criticized Mr. Ramaswamy and other Republicans during a presidential debate. He believes that their views are out of touch with the economic struggles faced by many Americans.
As Mr. Kennedy continues his campaign, he hopes to bring attention to these issues and offer solutions that will benefit the middle class and bridge the divide in the country.
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