LAS VEGAS (KTNV) — During this election, one of the biggest topics on the minds of voters is the economy and housing affordability.
In Southern Nevada, the average price of a single-family home in August of this year was $476,875, almost back to the record high set during the pandemic.
I looked into what both Vice President Kamala Harris and former President Donald Trump have planned when it comes to housing.
On Trump's website, the policy says:
 Andrew Harnik/AP | "To help new home buyers, Republicans will reduce mortgage rates by slashing inflation, open limited portions of federal lands to allow for new home construction, promote home ownership through tax incentives and support for first-time buyers, and cut unnecessary regulations that raise housing costs." - Donald Trump's campaign |
To view Trump's policy, click here.
I spoke to experts in the field to see how this will all play out here in Southern Nevada — experts like Bob Hamrick, President of Coldwell Banker Premier Realty.
Local News
Joe Moeller asks former President Trump about Southern Nevada's land problem
"Opening federal land for Southern Nevada would have the greatest impact for Southern Nevada versus anywhere else in the country because Nevada has the most amount of government owned land," Hamrick said.
RELATED STORY | Is Southern Nevada running out of available land for development?
And if you go over to Harris' website, this is her policy which reads in part:
"...And she will cut red tape to make sure we build more housing faster and penalize firms that hoard available homes to drive up prices for local homebuyers. Vice President Harris knows rent is too high and will sign legislation to outlaw new forms of price fixing by corporate landlords. |  Evelyn Hockstein/AP |
To view Harris' policy, click here.
RELATED STORY | Here is what each candidate said on hotbed issues for Nevadans during the ABC presidential debate
The $25,000 is the biggest one people are talking about. $25,000 to help first-time homebuyers. I asked Hamrick how this would play out.
"Any effort to incentivize buyers to purchase or give them an opportunity to make it easier to purchase is going to be beneficial," Hamrick said.
"The question is: where is that $25,000 coming from? What is it going to go towards? And the most significant way in which we can have an impact on affordability is to bring down interest rates...I would also say that all real estate is local, and our local governments and state governments have a greater opportunity to impact housing in our states and in our regions than a president does. Whichever president gets elected is going to be great for the housing market."
I also spoke with Social Sciences Professor Sondra Cosgrove with the College of Southern Nevada to ask which plan is more realistic.
"I think they are both realistic, if either one of them becomes president and they have a Congress that wants to work on these issues I think it is realistic to do. I think every state and every city is going to have a different reaction depending on how much resources we have at a local level to match what is happening at a federal level," Cosgrove said.
