By Mike Smith

Special to FCNP

Rep. Don Beyer of Falls Church says there are just not enough affordable houses to go around. He knows a thing or two about inventory, supply and demand. Beyer endorsed Vice President Kamala Harris’s economic plans including the promise to build three million new houses in America and provide first-time homebuyers with $25,000 toward a downpayment.

“I really like her plans to build three million new homes,” said Beyer at the Democratic National Convention in Chicago on Tuesday. “Here in Virginia we are short about 150,000 dwelling units and according to my friends at the National Association of Home Builders, they say we need six million new homes to meet the demand. If you could cut that number in half, and build three million units, it helps with supply and demand.”

“Historically, if your parents owned a home, you could enter the market and cross that threshold,” said Beyer. However, those without such advantages may find home buying out of reach. “It’s hard to enter the market here.”

According to recent data published this week by CNBC from Bankrate loans, the median price of a home is now about $402,300 and first-time buyers would need to earn over $110,900 in annual income. Compared to four years ago, that is a roughly 50 percent increase, the report says. According to Bankrate, that tally is up over the $100,000 mark in 22 states. “The higher the price of a home, the harder it is to come up with a down payment. Home values are at record highs.”

Zoning and permitting laws need to be reformed, according to Beyer, to remove builder barriers. “The homebuilders say it is too proscriptive.”

“I am excited about the Harris plan and let’s hope the interest rates come down to help reduce inflation,” Beyer said. “Chairman Powell needs to bring these rates down so people can buy, sell or move.”

He said the mood in the Virginia delegation is very upbeat. “Last night was a lot of fun with President Biden speaking and tonight it’s the Obamas. “There is something going on virtually every hour at this convention. It’s high energy and there is lots of optimism. We are moving back to honesty and decency,” in our politics.

As for the Trump campaign, Beyer quoted a now familiar term. “It’s weird,” he said. “They are not addressing the needs of our families that most people are focused on.” He mentioned the Biden-Harris economic legacy of the Bipartisan Infrastructure Law, the Inflation Reduction Act and the CHIPS Act to build high tech processors as landmark legislation.

He said that most of the delegates in the Virginia delegation skew a little bit older, “because of the party nominating process. We held our state delegation meeting at T.C. Williams High School” (now known as Alexandria City High School).

“It takes time to rebuild our economy following the pandemic,” said Beyer of the recovery. “We must rebuild our manufacturing and our factories.” He said the Childcare tax credit idea would also help this return to work.

“Last night you heard cries for unity. The talk was about having one America appealing to larger values like compassion and honesty and decency. Trump has always been about dividing us and he doesn’t like people of different colors, or cultures, or languages,” said the Congressman.

He noted that divisiveness doesn’t work in a city like Falls Church which is a melting pot of cultures and languages.

“We need our leaders to help us heal, and bring our diverse communities together.”