Kamala Harris Pledges 3 Million New Homes, 25K DP Plan for Renters, End Food Price Gouging Who Gets What and Who Will Pay If It Passes Congress-Courts? Surprises, and Analysis – plus MHMarkets
To help financial insecurity, Kamala Harris (D) began to lay out a plan to take on “big food companies,” “big pharma,” and ‘exploitation’ in the housing market, she said in campaign event in North Carolina yesterday. It has been almost a month since Joe Biden (D) stepped aside from his party’s nomination to be their presidential candidate in 2024 so that Kamala Harris could be given the Democratic Party’s de facto nomination to be their candidate for the presidency. If elected, Harris would become the first female president. Thus far, it has been called a “good vibes” campaign which attempts to capture the ‘magic’ that Barack Obama generated in 2008 for Democrats and does so in a compressed timeframe that balances distancing herself from unpopular aspects of the Biden-Harris administration while laying out a claimed ‘vision for a better future.’ There has been numerous endorsements of Harris and her selected running mate of Governor Tim Walz (MN-D) by celebrities and billionaires. Hundreds of millions of dollars have been provided to her campaign, often by deep pocketed donors to super PACs – political action committee – aligned with her and her party. Yesterday, on 8.17.2024 Harris, rolled out the first elements of her focus group tested campaign promises, which include stopping price gouging on food, drugs, and several promises on housing that will be explored in Parts I and II of this report with analysis. Harris naturally slammed her Republican rival, deposed 45th President Donald J. Trump, who she has asserted is a ‘threat to democracy.’ A broad insight in her remarks and campaign will be shown in Part I, with more details about Harris’ housing plan and an analysis provided in Part II.
That analysis in Part II will focus on some pragmatic questions. Such as what hoops have to be navigated in order for Harris to deliver on her promises, such as needed Congressional action, will the courts uphold her promises even if they pass, and who will be the winners and the losers in such a plan? This report will also explore with AI, why hasn’t Biden-Harris already taken these steps 3.5 years ago, if they are all such good ideas?
Recall that J.P. Morgan Chase recently posted an item on the importance of the upcoming election in forging U.S. policies and regulations. While our focus as a trade publication is manufactured housing, for the kind of reasons the banking giant cited, MHProNews has for a decade touched upon political items because politics impacts our profession, the economy, and almost all aspects of American life.
(The Center Square) – Vice President Kamala Harris promised a “new way forward” economically for the country at a campaign event in North Carolina on Friday.
“This election . . . is about two very different visions for our nation,” she said. “One, ours, focused on the future. And the other, focused on the past. Building up the middle class will be a defining goal of my presidency, because I strongly believe when the middle class is strong, America is strong.”
Harris, in the West Wing since Jan. 20, 2021 when President Joe Biden was inaugurated, promised that she will continue to address how she plans to build what she called an opportunity economy over the coming weeks. At this occasion, she primarily focused on how she said she plans to lower the cost of living.
The task is challenging. Inflation is more than double – 2.9% – the inherited 1.4% by this administration in which she serves, and prices have risen more than 22% since she and Biden took office.
“Two days ago, Donald Trump was here in North Carolina,” she said. “He said he was going to talk about the economy. He offered no serious plans to reduce costs for middle class families and no plan to expand access to housing or health care.”
Harris defended her and Biden’s time in office, pointing to what she said is a prosperous American economy. Her speech came two years to the day she cast the deciding vote on the $891 billion Inflation Reduction Act of 2022.
“Our country has come a long way since President Biden and I took office,” she said. “Today, by virtually every measure, our economy is the strongest in the world.”
Her comments were in contrast to the nation’s record $35 trillion in debt and annual budget deficits that for the first time now exceed $1 trillion annually.
Harris said the steps the administration has taken are just the first.
“As President of the United States, it will be my intention to build on the foundation of this progress,” Harris said.
To help end this insecurity, Harris laid out a plan to take on “big food companies,” “big pharma,” and exploitation in the housing market.
One of the first steps she promised was to take on what she called “price gouging” at grocery stores.
“Most businesses are creating jobs, contributing to our economy, and playing by the rules, but some are not. And that’s just not right,” Harris said. “As president, I will go after the bad actors and I will work to pass the first-ever federal ban on price gouging on food.”
Harris promised that her administration will address the cost of health care by capping the costs that companies can charge for certain drugs.
“I’ll lower the cost of insulin and prescription drugs for everyone,” she said.
Harris said that housing costs are also impacting Americans.
“As president, I will work, in partnership with industry, to build the housing we need, both to rent and buy,” Harris said. “We will take down the barriers and cut red tape, including at the state and local levels.”
By the end of her term, if she’s elected, Harris said she plans to build 3 million new homes and rentals. She also said that her administration will give all first-time home buyers a $25,000 down payment to put toward their first home.
Harris also said that her policies will give 100 million Americans a tax cut, all while cutting the national deficit.
“We will do this by restoring two tax cuts designed to help middle class and working Americans: The Earned Income Tax Credit and the Child Tax Credit,” she said.
She called out Trump’s approach to the economy, saying that his plans to pass a national sales tax on imports will “devastate Americans.”
“At this moment when everyday prices are too high, he will make them even higher,” Harris said.
For context, prices today are higher – in many cases significantly – than when Trump and Mike Pence were beaten by Biden and Harris. A federal report recently released for the state where she spoke, North Carolina, said households spend 22% more – $1,017 on average.
She added that Trump’s administration would only hurt the middle class.
“Donald Trump’s plans will devastate the middle class, punish working people, and make the cost of living go up for millions of Americans,” Harris said. “On the other hand, when I’m elected president, we will . . . bring down costs, increase the security and stability financially for your family, and expand opportunity for working and middle class Americans.” ##
Part II – Additional Information with More MHProNews Analysis and Commentary
According to left-leaning Business Insider, was the following about Harris’ campaign statement yesterday on housing.
The Democratic presidential candidate revealed the first details of her new economic agenda on Friday, which she hopes to implement during her first 100 days in office. A key part of her proposal involves building 3 million new homes over a four-year period.
The pull quotes that follow are from the same source, which included the following.
Jung Hyun Choi, principal research associate at the Urban Institute’s Housing Finance Policy Center, said the lack of supply “is the root cause of the current problem” with the housing market, adding that Harris’ proposal to build more homes is “really the key solution of the housing market problem.”
Homeownership is one of the most reliable ways to create stability in Americans’ economic lives and should be a priority, according to Christopher Mayer, a professor of real estate at Columbia Business School who praised Harris’ emphasis on supply.
“I think most people should be homeowners,” Mayer said, noting the falling homeownership rate among young people. “Owning a home is a proven way of building wealth. It creates stability for households.”
However, with the low supply of starter homes, those making the jump from renting to owning often have to contend with both high prices and steep mortgage rates.
America is facing a significant housing shortage, with the country between 4 and 7 million homes short, NPR reported in the spring of this year. Builders have cited supply chain issues, among other reasons building has stalled. Zoning also remains a large barrier to homes being built.
Harris’ housing proposals expand on policies President Joe Biden has attempted to implement since taking office, including loosening regulations that restrict construction. Former President Donald Trump also urged states and cities to pursue some zoning reform while he was in office.
She intends to provide the nation’s first tax incentive for builders who construct starter homes and sell them to first-time buyers. Harris also intends to create a $40 billion federal fund to incentivize local housing construction, an expansion of Biden’s proposed $20 billion fund. To top it off, she vowed to expand existing tax incentives for businesses that construct affordable rental housing.
Part of Harris’ proposed federal fund to encourage housing construction would make some federal lands eligible to be repurposed for new, affordable developments — something Trump recently promised to do as well.
In Mayer’s view, the down-payment policy is rooted in good intentions but may not be particularly cost-effective. Many first-time homeowners traditionally rely on their families for help with a downpayment, Mayer said, meaning lower-income buyers often don’t have access to generational wealth, and the $25,000 could significantly help them. Yet, he would rather find ways to lower down payments across the board than distribute money as Harris is proposing.
Wachter, meanwhile, said she supports the effort to aid potential homeowners with their down payments but is not confident the proposal would garner broad political support.
While Wachter declined to comment on Harris’ proposal to limit Wall Street’s ability to buy single-family homes, Mayer is less enthusiastic about it.
“The vast amount of single-family rentals are not owned by people on Wall Street, they are owned by people who own small numbers of houses,” he said of the plan. “Institutional investors bring efficiencies to management of that, and those efficiencies generally result in better opportunities for renters.”
Before unpacking that and Part I, consider the following facts and insights.
1) This is what the home page or landing page for the Kamala Harris Tim Walz campaign website on 8.17.2024 at about 3:53 AM. There is initially no visible information on what their policies would be. MHProNews Notice: this is a fact check, not an endorsement.
2) Click the “close” or X at the top right of the white box on the above, and the next page is what appears. There is still no obvious link for campaign specifics. At this point, not even the housing plan she began to lay out on 8.16.2024 is visible on their website.
3) Click Meet Kamala Harris and, on this date, here below is what you see. The main text (not donate or footer info) will follow. Keep in mind, this is a fact check and analysis, not an endorsement. The statements are from her website, as shown.
Meet Vice President Kamala Harris
Vice President Kamala Harris has devoted her career to fighting for the people.
As the daughter of parents who brought her to civil rights marches in a stroller, she was inspired to tackle injustice from an early age. She took that mission to county courtrooms, the California Attorney General’s office, the United States Senate, and the White House.
Now she is running for President of the United States to continue protecting our freedoms, delivering justice, and expanding opportunity so that every American can not just get by, but get ahead.
As vice president, she’s been a trusted partner to President Joe Biden in their work to take on the powerful and make change for the people — from standing up against extremists to defending reproductive freedom to taking on Big Pharma to bring down prescription drug costs and cap the price of insulin at $35 a month for our seniors.
The Biden-Harris administration has achieved a historic record of accomplishment, including: bringing our economy back from the brink of disaster to create nearly 16 million new jobs; investing over $1 trillion in infrastructure projects like repairing roads and bridges, removing every lead pipe in America, improving public transit, and expanding access to high-speed internet; strengthening the Affordable Care Act and lowering health insurance premiums to save millions of Americans an average of $800 per year; expanding health care for veterans exposed to toxins; enacting the first meaningful gun safety reform in decades and bringing violent crime down to a near 50-year low; passing the largest-ever investment in tackling the climate crisis; and appointing the first Black woman to the United States Supreme Court.
Vice President Harris has proudly represented the United States on the global stage in meetings with over 150 world leaders and bolstered vital alliances against tyranny abroad — and she is just as committed to stopping would-be authoritarians and dictators at home. She is leading the charge to protect fundamental freedoms, including the right to an abortion and the right to vote.
In the U.S. Senate, she led on legislation to raise wages and bring down costs for American families — on housing, health care, child care, college, and more. Serving on the Senate Judiciary Committee, Homeland Security and Governmental Affairs Committee, Select Committee On Intelligence, and Committee On Budget, she fought for critical causes like criminal justice reform, climate action, infrastructure investments, and election security. She also grilled Donald Trump’s nominees, including Justice Brett Kavanaugh, and Cabinet officials, including then-Attorney General Jeff Sessions, to get answers for the American people.
As California’s attorney general, she went up against the big banks and won — securing $20 billion for middle class homeowners who were facing foreclosure during the Great Recession. She went up against predatory for-profit colleges and won — delivering a $1.1 billion settlement for students and veterans who got scammed. She went up against discrimination and won — leading the team that helped bring down California’s Proposition 8 at the U.S. Supreme Court and fighting for marriage equality nationwide. She prosecuted transnational gangs that exploited women and children and trafficked in guns, drugs, and human beings, and fought to require for-profit insurers to cover contraception and other reproductive health services.
Beginning her career in the Alameda County District Attorney’s Office, she specialized in prosecuting child sexual assault cases. She later joined the San Francisco District Attorney’s office, and went on to win election to two terms as district attorney — where she started a program, “Back on Track,” to give first-time drug offenders the opportunity to earn high school diplomas and get jobs, that became a national model for decreasing recidivism rates.
Vice President Harris is a proud graduate of Howard University and the University of California, Hastings College of the Law.
In 2013, her best friend set her up on a blind date with Douglas Emhoff. The next year, she married him. Their large blended family includes their children, Ella and Cole, who call her Momala.
Throughout her life, she’s broken barriers, and she’s now the first woman, first Black American, and first South Asian American to serve as vice president. She always remembers and acts on the words of her mother, Dr. Shyamala Gopalan Harris, a renowned breast cancer researcher:
Kamala, you may be the first to do many things, but make sure you are not the last.
On January 20, 2025, if we all do our part, she will once again make history — and she will make sure the doors of opportunity are wide open for all to follow. ##
So, as noted in the preface, there has been early in the Harris campaign described by some as an effort to create a ‘feel good’ vibe, and that is what the above appears to aim to do as well. Controversies and disrupted details about Harris’ record are ignored.
4) MHProNews will fact check elements from the above shortly. But as a relevant news item, it will be recalled that lifelong Democrat Robert F. Kennedy Jr. (RFK Jr.), who entered the 2023-2024 Democratic nomination process over a year ago. He did so to challenge Biden-Harris, who he has accused of being in the pockets of big business interests that were turning the U.S. into a form of modern feudalism, an oligarchy where there is a ruling class and then all the rest of the people. So, a Democrat was blasting Biden-Harris as leaders of his party for their positions that he said hurt the vast majority of Americans.
As the campaign evolved, Kennedy jumped from his party, to declare an independent candidacy, saying that the Democrats had rigged the primary system to favor Biden-Harris. The specific letter Kennedy provided to the DNC – the Democratic National Committee – is shown in the article below. Like the above, both are eye opening.
5) RFK Jr. is hardly the only Democrat and left-leaning personality who has made similar charges. Another former Democratic candidate for that party’s nomination for president, Congressman Seth Moulton (MA-D), made similar statements in an interview. Moulton said that Democrats are the party of the ultra-rich and yet they cling to the image of being the party for the poor and marginalized.
6) MHLivingNews covered the point that the Biden-Harris regime was asked by Democratic Black, Hispanic, and Asian caucuses leader to honor their promises on access to more affordable housing. The apparent response has been crickets. Silence.
7) Then there were the remarks by leftist (a.k.a. progressive) Michael Weinstein, who publicly accused Democrats of failing Americans in need earlier this year. Weinstein said that tens of billions of dollars have been “wasted” on what he called the ‘affordable housing industrial complex.’ In essence, Weinstein was ripping Democrats for posturing on housing while enriching a few selected cronies in a corrupt system that fails to deliver what was promised. If that sounds similar to something like what Kennedy alleged, that would be a fair assessment. Keep in mind that there are others, in and out of the Democratic Party, who have lodged similar concerns.
For instance, video journalist Johnny Harris in an evidence-based op-ed for the left-leaning New York Times said:
Liberal Hypocrisy is Fueling American Inequality. Here’s How.
These are leftist voices and platforms that are traditionally Democratic supporting or are themselves Democrats. They have made the point that on housing and other issues, Democrats have failed to help those that they claim to champion. As Johnny Harris’ headline framed it, it is “hypocrisy” from the left.
8) Note too that despite more spending on the U.S. Department of Housing and Urban Development (HUD), homelessness under Biden Harris went up, and HUD was run by their appointee, Sec. Marcia Fudge, who was also a Democrat Congressional representative and mayor previously. Per HUD: “The report found more than 650,000 people were experiencing homelessness on a single night in January 2023, a 12% increase from 2022.”
Recall that MHProNews has previously reported that some in the political world allow or even fuel a problem in order to create a ‘crisis’ which they then want to step in and ‘solve.’ Recall too that posturing, pandering, often unkept promises, and paltering are part of this problematic pattern. Nice sounding words are expressed, but as time goes by, the promises made failed to be achieved. While this may seem to offer ‘hope’ for those who don’t keep up with the details of politics, it is more illusion for most than reality. A few may seem to benefit, which allows for periodic news items that pitch a ‘success,’ but upon closer examination, the majority of Americans don’t benefit. A few may ‘win,’ but most lose.
It has been called a bait and switch, a shell game, a con job, call it what you will. But the next point, #9, shows how long this has been occurring in the housing arena.
9) Then recall that MHProNews/MHLivingNews reported that in September of 2021, the first year of the Biden-Harris administration, that HUD researchers Pamela Blumenthal and Regina Gray (who based on geography, odds are good that they are likely Democrats), said the following.
The regulatory environment — federal, state, and local — that contributes to the extensive mismatch between supply and need has worsened over time. Federally sponsored commissions, task forces, and councils under both Democratic and Republican administrations have examined the effects of land use regulations on affordable housing for more than 50 years.
Blumenthal and Gray’s more detailed comments can be found in reports like the ones linked below. Gray specifically touted the importance of manufactured housing in her remarks. Each of these reports merit careful attention from those who are keen to see more affordable housing, and to those who want to see much more affordable manufactured home production play an important part in that process.
10) With these points in mind, let’s pivot briefly back to RFK Jr. and Kamala Harris. According to the left-leaning New York Times: “Robert F. Kennedy Jr. was unsuccessful with his request to discuss endorsing the Democratic nominee in exchange for a top administration job.” The headline of that report said Kennedy sought a meeting with Harris, which did not occur. The left-leaning Huffington Post said: “We’ve been told that they have no interest in talking with me,” [per] independent presidential candidate Robert F. Kennedy Jr.” Some could, and in their own words, have called what follows from RFK Jr sour grapes. But ponder these remarks.
VP Harris’s Democratic Party would be unrecognizable to my father and uncle and I cannot reconcile it with my values.
The Democratic Party of RFK and JFK was the party of civil liberties and free speech. VP Harris‘s is the party of censorship, lockdowns, and medical coercion.…
One of my campaign’s biggest hurdles is that the mainstream media won’t let me on. When Ross Perot won 19% of the vote, he was an invited guest on mainstream media almost every night. In the last 18 months, outside of Fox News, I’ve only had a handful of mainstream media… pic.twitter.com/AuLADGi7Dh
My take on VP Harris’s economic plan: it actually has some good ideas — help for first-time homebuyers, tax credit for parents of newborns. But the notion that you can control inflation by limiting “corporate price-gouging” is absurd. That isn’t the cause of inflation. It is the…
11) Let’s briefly explore each of those posts by RFK Jr.
Lifelong Democrat Bobby Kennedy Jr. said that the Democratic party of Biden-Harris would be unrecognizable to his father and uncle. His father was Senator Robert F. Kennedy Jr. and served as the Attorney General in his brother John F. “Jack” Kennedy’s administration. Both Kennedy’s were gunned down by assasins. Until the Trump assassination attempt, the Biden-Harris regime declined giving RFK Jr.’s campaign Secret Service protection, which would have been common for a campaign of that size. Democrats, the DNC, have been the obstacle to RFK Jr. getting more ballot access, Kennedy has said. In essence, it wasn’t enough, per Kennedy, that Democrats rigged their own primary against opponents to Biden-Harris, they are trying to keep him off ballots in various states too.
The DNC wants to win this election in court—rather than win over the American people.
12) Some more posts and retweets, and we’ll pull these posts together with the Harris-Walz campaign topic shortly. That noted, Kennedy reposted the following.
1. Attorney Robert Barnes breaks down why the Democratic National Committee’s lawfare against RFK Jr. in New York is baseless and “frivolous”:
In Robert Kennedy’s case, he’s maintained an ongoing legal residence in New York from the time he was 10 years old.
* Registered to…
Judge Ryba’s ruling is an assault on New York voters. The Democratic Party is unrecognizable to me. The party of my father and uncle’s time was committed to expanding voters’ rights and understood competition at the ballot box is an essential part of American Democracy. The DNC… https://t.co/lA34owzcht
We’ll look at Kennedy’s remarks on housing in the context of our analysis of Harris’ pitch further below.
World peace used to be the liberal position, the Democratic position… the Kennedy position. Today instead we read a sensible pro-peace position in The American Conservative. Here is an excerpt:
“The New National Defense Commission Report Misses the Point. The main threat to…
This bastion of free speech called X must be protected as the establishment intensifies its assaults against it. Thank you @elonmusk for your service. https://t.co/QbELD6O72o
Here’s a novel idea: instead of relying on BlackRock investors to restore the middle class, we bring in people who are actually FROM the middle class? https://t.co/7Ov0ZbGLje
Europe has fallen. Orwell‘s satirical Ministry of Truth is now a dystopian reality. Technocratic totalitarianism has turned lies into truth,and war into peace. Coming to America soon if this election goes to the party of censorship and anti democracy lawfare. https://t.co/iTIIlNbfks
Corporate media branded me a conspiracy theorist for suggesting that COVID era censorship was the start of a
totalitarian coup against our all free societies. Now England, once the bastion of press freedom, is validating my prediction and previewing our own Orwellian future.…
Chronic illness is sapping our nation’s vitality. If you include obesity, 60% of Americans have a chronic illness today.
Every American has a family member or friend with one or more chronic illnesses. The Medicare and Medicaid budgets are now 5 times larger than our military…
VP Harris can criticize President Trump all she likes, but she’s the one who took campaign donations from a guy who made billions illegally evicting tens of thousands of working families, veterans, and vulnerable elderly folks from their homes — then declined to prosecute him,… https://t.co/yy8ed2ayk3
A frightening arsenal of surveillance and control technologies (AI, GPS, Facial Recognition etc.) makes it imperative that we elect leaders who will protect our Constitution. Let’s hope Governor Walz has read the first Amendment and revised his views since he made this troubling… https://t.co/Rg9oQcLiYv
— Robert F. Kennedy Jr (@RobertKennedyJr) August 9, 2024
Kamala has not been transparent on her policy stances, but one thing she’s been very clear on is how she feels about 18-24 year olds.
Here’s how I feel about the youth of America. And hope many of you will consider joining our @students4kennedy2024 movement.
During my announcement speech more than a year ago, I said that I have so many skeletons in the closet that if they could vote, I would be king of the world. I knew much would be made of my past. I have been around politics. I know of its hazards. I also knew that my vision and…
— Robert F. Kennedy Jr (@RobertKennedyJr) August 9, 2024
I just found out that the price of wheat right now is about the same as it was in 1972. $4.86 a bushel. A loaf of bread in 1972 cost 25 cents.
Bread has gone up by a factor of ten since then, but the farmer has gotten none of that money. Something is seriously wrong with a…
— Robert F. Kennedy Jr (@RobertKennedyJr) August 9, 2024
— Robert F. Kennedy Jr (@RobertKennedyJr) August 8, 2024
13) This article IS NOT an ad for RFK Jr., nor for Harris-Walz, so it should not be thought of that way. Those personalities merit being considered in their own voices, statements, history, and achievements or the lack thereof. Naturally, voters can cast their vote for whomever they want to vote.
But voters should know who and what they are voting for or against. And there is an evidence-based argument to be made that millions of Americans vote based on habits rather than on clearly considered facts and evidence. The promise of ‘hope and change’ that was ushered in with Obama-Biden, it has largely been acknowledged, failed to materialize. Many of the signature promises made by Obama never occurred during his time in office.
Kennedy is not a Trump fan. Kennedy is in several ways a progressive or leftist candidate. As noted, RFK Jr. is a lifelong Democrat. But Kennedy and others have said that Democratic Party bosses are using “lawfare” against him – to deny ballot access – and against Trump, to attempt to deny each ballot access. Democrats and their allies have also seemingly attempted to bankrupt and put Trump in prison if possible. Now that Biden is out of the race, the volume of news about his son Hunter’s legal woes from left-leaning media may increase. Hunter is already convicted in one case and more charges are pending. Hunter and his father Joe have been credibly accused with evidence of a foreign influence peddling scheme. MHProNews signaled the legal and ethical problems associated with the Biden family some 4 years ago.
While on the raunchy side, the video clips and insights below are insights into Hunter, who was the ‘bag man’ for Joe and the family influence peddling business.
14) Harris and Walz will likely want to try to stay arm’s length from these problematic controversies involving the Bidens that the House has been probing for months. Some of the items from that linked Congressional report are the following. Note that bank records are linked.
Since taking the gavel in January, the Committee on Oversight and Accountability has accelerated its investigation of the Biden family’s domestic and international business practices to determine whether the Biden family has been targeted by foreign actors, President Biden is compromised, and our national security is threatened. Records obtained through the Committee’s subpoenas to date reveal that the Bidens and their associates have received over $20 million in payments from foreign entities.
Below is a timeline that details key dates in our investigation.
The main points of interest are:
1) Romania: On September 28, 2015, Vice President Biden welcomed Romanian President Klaus Iohannis to the White House. Within five weeks of this meeting, a Romanian businessman involved with a high-profile corruption prosecution in Romania, Gabriel Popoviciu, began depositing a Biden associate’s bank account, which ultimately made their way into Biden family accounts. Popoviciu made sixteen of the seventeen payments, totaling over $3 million, to the Biden associate account while Joe Biden was Vice President. Biden family accounts ultimately received approximately $1.038 million. The total amount from Romania to the Biden family and their associates is over $3 million.
2) China- CEFC: On March 1, 2017—less than two months after Vice President Joe Biden left public office—State Energy HK Limited, a Chinese company, wired $3 million to a Biden associate’s account. This is the same bank account used in the above “Romania” section. After the Chinese company wired the Biden associate account the $3 million, the Biden family received approximately $1,065,692 over a three-month period in different bank accounts. Additionally, the CEFC Chairman gives Hunter Biden a diamond worth $80,000. Lastly, CEFC creates a joint venture with the Bidens in the summer of 2017. The timeline lays out the “WhatsApp” messages and subsequent wires from the Chinese to the Bidens of $100,000 and $5 million. The total amount from China, specifically with CEFC and their related entities, to the Biden family and their associates is over $8 million.
3) China- Bohai Harvest RST Equity Investment Fund Management Co., Ltd. (BHR): More information will be provided in our upcoming Fourth Bank Memorandum.
4) Kazakhstan: On April 22, 2014, Kenes Rakishev, a Kazakhstani oligarch used his Singaporean entity, Novatus Holdings, to wire one of Hunter Biden’s Rosemont Seneca entities $142,300. The very next day—April 23, 2014—the Rosemont Seneca entity transferred the exact same amount of money to a car dealership for a car for Hunter Biden. Hunter Biden and Devon Archer would represent Burisma in Kazakhstan in May/June of 2014 as the company attempted to broker a three-way deal among Burisma, the Kazakhstan government, and a Chinese state-owned energy company.
5) Ukraine: Devon Archer joined the Burisma board of directors in spring of 2014 and was joined by Hunter Biden shortly thereafter. Hunter Biden joined the company as counsel, but after a meeting with Burisma owner Mykola Zlochevsky in Lake Como, Italy, was elevated to the board of directors in the spring of 2014. Both Biden and Archer were each paid $1 million per year for their positions on the board of directors. In December 2015, after a Burisma board of directors meeting, Zlochevsky and Hunter Biden “called D.C.” in the wake of mounting pressures the company was facing. Zlochevsky was later charged with bribing Ukrainian officials with $6 million in an attempt to delay or drop the investigation into his company. The total amount from Ukraine to the Biden family and their associates is $6.5 million.
6) Russia: On February 14, 2014, a Russian oligarch and Russia’s richest woman, Yelena Baturina, wired a Rosemont Seneca entity $3.5 million. On March 11, 2014, the wire was split up: $750,000 was transferred to Devon Archer, and the remainder was sent to Rosemont Seneca Bohai, a company Devon Archer and Hunter Biden split equally. In spring of 2014, Yelena Baturina joined Hunter Biden and Devon Archer to share a meal with then-Vice President Biden at a restaurant in Washington, D.C. The total amount from Russia to the Biden family and their associates is $3.5 million.
Beyond this timeline, here are links to our First, Second, Third, and Fourth Bank Memorandums that provide detailed descriptions and show actual bank records and wires.
15) But some of that was already known before the 2020 election, although more details have emerged since then. Meaning, Harris surely was aware of these matters, just as she was aware of Joe Biden’s apparent cognitive decline. When PINO Biden’s situation was exposed to the public at the June debate with Trump, the pressure for Biden to withdraw rose.
When later asked about this by a talk host, Harris literally laughed it off by saying that it was only a debate.
16) The critics of Harris and Walz are many, but every candidate has critics, that alone may or may not be a big deal. The question ought to be to objective truth seekers is are the criticism warranted by unbiased evidence?
This report has delved into several aspects of Harris own words and behaviors. We haven’t gone into claims she slept her way up in politics with fellow Democrat Willie Brown, as but one example. As Kennedy said, he has plenty of skeletons in his closet, it is said that he has slept with over 40 women. Trump, for that matter, has a colorful history of comments, behaviors and racy history with women. As a black man said of Trump in a video, he isn’t running to become the pope, he’s running to be president. RFK Jr.’s father and uncle had similar histories of philandering. That doesn’t make it right, it just makes it an apparently evidence-based reality about all three of those individuals, and scores of others. There has been a slush fund in Washington, D.C. for years that is used to pay off claims of inappropriate sexual relationships between public officials and others.
Those points aside, let’s focus for a bit on Kennedy’s behavior. He has been making a credible run as an independent. Polling indicated at various times that he has polled ahead of other minor party and independent candidates for president in the 2024 election cycle. While it ought to be troubling that there appears to be evidence to back up Kennedy’s charge that the DNC and Democratic allies have fought to limit his ballot access, it should also be troubling to Kennedy backers that after having blasted Biden on several occasions, and thus by extension Harris as Biden’s running mate, that Kennedy has reportedly made an attempt to do a patronage style deal with Harris. Agree or disagree with the wisdom of the Harris-Walz campaign to even discuss a deal with Kennedy, there is a case to be made that Kennedy has undermined his own campaign by purportedly making such an offer to endorse Harris in exchange for a Kennedy endorsement.
It should be noted that MHProNews’ analysis of the Kennedy campaign has been that while he has said several interesting and insightful things, he is still quite solidly on the political left. He is a Democrat at heart. Even after the dirty tricks that he has claimed that have been thrust at him for over a year by Biden-Harris aligned party insiders, Kennedy decides to see if he can get a cabinet level position in a Harris administration? That surely could be a disappointing development for the reportedly 100,000 volunteers who helped Kennedy secure ballot access in so many states.
That said, Kennedy’s stance on Harris recent policy points yesterday are still worth considering. Kennedy is arguably correct in dismissing Harris’ pledge to do price controls in groceries as “absurd.” Consider what E.J. Antoni said about that subject.
Here’s your “price gouging” narrative: average costs paid by businesses have risen just as much as costs charged to consumers – if businesses are being “greedy,” they’re doing it all wrong… pic.twitter.com/ALiw72MXSf
By attempting to demonize businesses, instead of taking responsibility for what has occurred in the U.S. economy during the Biden-Harris years, Harris is playing the part of the pandering politician who is a hypocrite. It is a matter of record, and Harris admitted she helped cast key votes in the Senate, that fueled the legislation that created Biden-Harris era inflation that she now claims to want to correct. It is chutzpah and hypocrisy on a grand scale.
17) But some more tweets (X-posts) by economist Antoni are warranted. These are mostly housing market related. Once again, what this demonstrates is that Harris’ plan, that Kennedy mistakenly said has some good parts to it, are just nice sounding words from the party in power that has failed to help the market, they have demonstrably hurt the housing market.
According to B(L)S, homes are 22.0% more expensive than in Jan ’21, but they don’t use real world data on home prices and interest rates – doing so reveals homeownership cost has more than doubled w/ monthly mortgage payment on median price home up 112% in that time… pic.twitter.com/8PxkvCtEwk
Rents are up 22.3% since Jan ’21, but this metric suffers from large lags and will continue marching higher in the months ahead as it incorporates today’s price changes: pic.twitter.com/iHWOO63hGb
Inflation outpacing earnings growth along w/ higher borrowing costs (from larger debt balances and higher interest rates) have combined to effectively reduce the typical American family’s annual income by about $7,800 compared to Jan ’21: pic.twitter.com/n2N5W68rbE
The apartment construction boom has crested and we’re now on the decline; first permits began trending down, then starts, and now completions have likely peaked; it’s all downhill from here… pic.twitter.com/6dSBRQ3tCz
Housing starts have been sliding, albeit erratically, since Apr ’22; not only did starts plunge in Jul but Jun had a huge downward revision – seems like the house of cards is coming down: pic.twitter.com/Op4PA2GnT9
Building permits fell in Jul, led by a plunge in permits for apartment building; the construction boom already underway will play itself out, but then we’ll see supply growth (completions) shrink far below pre-pandemic level; then rents march even higher… pic.twitter.com/PEqrwIzbk1
Housing permits: DOWN
Housing starts: DOWN
Housing completions: DOWN
Another lousy residential construction report in Jul w/ no relief in sight; we haven’t seen numbers this bad since the covid lockdowns: pic.twitter.com/6I3HGgKCNP
Common expenses for the average American family are up 25% or more since Jan ’21; vehicle cost, maintenance, repair, and insurance are particularly bad – driving is now prohibitively expensive for many folks: pic.twitter.com/cl447kgxKj
Note how the number of business formations was plunging, but then surges when the chart changes from actual data to projection – it’s all just a big bag of hope, and things are much worse than you’re being told by the headlines: pic.twitter.com/mrxAa1zPOL
18) Not mentioned by Antoni in those X-posts, nor by Harris in her speech yesterday in NC, was manufactured housing. Consider this Q&A with Copilot.
Did Kamala Harris mention manufactured housing or manufactured homes in her North Carolina housing policy speech?
During her North Carolina housing policy speech, Vice President Kamala Harris outlined her economic policy plan, which included several key points related to housing:
Building Affordable Housing Units:
Harris proposed building three million more housing units to address housing shortages and affordability issues.
Note that as MHProNews has previously reported, Bing and thus Copilot are left-leaning.
19) Another Q&A with Copilot.
Economist EJ Antoni reports that housing and apartment starts are down. Antoni said that incomes are up but fail to keep pace with inflation. Housing costs have skyrocketed due to higher interest rates, which were fueled by inflation. Harris cast key votes in the Senate to get parts of the Biden-Harris agenda into law, right? The Inflation Reduction Act has been called a misleading label, because the spending by the Biden-Harris administration, largely and at times only supported by Congressional Democrats, fueled inflation along with Fed policies, aren’t all of those fair and accurate statements?
Indeed, EJ Antoni, a Research Fellow at The Heritage Foundation, highlights several critical points related to the housing market:
Home Affordability Crisis:
Home affordability has reached a 17-year low due to a combination of record-high home prices and rising interest rates.
Biden-Harris housing plans have mentioned manufactured housing several times. But manufactured home industry production declined in the closing months of 2022 and in all of 2023. Production this year, at the current pace according to data collected by the Manufactured Housing Association for Regulatory Reform (MHARR), indicates that manufactured homes could close lower in 2024 than in 2022 or 2021, right? And while Harris said she wants to deal with zoning barriers, couldn’t Biden-Harris have invoked the Manufactured Housing Improvement Act of 2000’s “enhanced preemption” provision to allow HUD to override zoning and placement barriers with inherently affordable HUD Code manufactured homes?
21) Per Copilot: “You’re absolutely right that the manufactured housing industry faced challenges in recent years.” Several of the items linked by Copilot were items on MHLivingNews, the Ledger item is a op-ed by this writer for MHProNews, the EIN news release, and others provide insights from MHARR, MHProNews, MHLivingNews, etc. Some of the items Copilot linked above could have been far more on point, for example, consider these reports.
22) Note that neither Harris nor Copilot mentioned the impact of illegal immigration on housing. Obviously, when millions of people are admitted into the U.S., they must be housed somehow. When there is already a housing shortage, it is self-evident that housing, apartment, and even motel/hotel rates are going to get upward pressure due to a massive influx, from 10 million to perhaps 15 million or more who have entered the U.S. under Biden-Harris. This is simply a factual outgrowth of what has been called ‘open borders’ policies. If that continued under a possible Harris-Walz regime, her pitched 3 million new housing units over 4 years, even if approved and built, may not keep up with the immigrant population, much less those of native born and naturalized Americans of all backgrounds.
23) Summed up in a phrase, her proposed plan on housing won’t work. More could be said, due to legislative and regulatory challenges, but the bottom line will remain the same. Harris’ plan won’t work. And it fails to address the point that she was part of the Biden-Harris team that led to these problems in the first place.
24) To learn more about the Harris campaign, as well as the Trump campaign, click the article linked below. Note that Antoni pointed out that Americans were doing significantly better under Trump. Note too in the conversation between Musk and Trump below, Musk said he is a moderate Democrat who can’t see supporting Harris and Walz. Musk previously supported Obama-Biden and Biden-Harris.
It would logically be foolish to reward with a vote Harris-Walz when Biden-Harris led the nation into the sand trap of higher costs, effectively lower earnings compared to inflation, and the like. Harris mischaracterized Trump’s plans, no surprise there, which are in part outlined in the report above. Briefly, Trump and his running mate Senator J.D. Vance (OH-R) say that they will deport illegal immigrants, starting with 1 million souls. Stopping illegal immigration and deporting illegals will start to ease housing demand. There plan states they will drive down energy costs, through domestic energy production, which will fuel higher paying jobs in the U.S. Trump-Vance have said that they will impose tariffs on imports, which will also create more domestic jobs and at higher pay.
25) The difference between Trump-Vance and Harris-Walz are several. Among them, both have a track record. It is not just about campaign promises. As the CNN graphic above reflects, wages rose dramatically under Trump. The Trump tax plan worked for the middle class, and reportedly the one group that had an increase in taxes where the upper incomes due in part to a loss of deductibility for certain items in primarily blue states.
26) To learn more about apparent duplicity and other shenanigans in the manufactured housing industry, see the articles that follow as examples.
Our Daily Business News on MHProNews stock market recap which features our business-daily at-a-glance update of over 2 dozen manufactured housing industry stocks.
This segment of the Daily Business News on MHProNews is the recap of yesterday evening’s market report at the closing bell, so that investors can see-at-glance the type of topics may have influenced other investors. Our format includes our signature left (CNN Business) and right (Newsmax) ‘market moving’ headlines for a more balanced report.
The macro market moves graphics below provide context and comparisons for those invested in or tracking manufactured housing connected equities. Meaning, you can see ‘at a glance’ how manufactured housing connected firms do compared to other segments of the broader equities market.
In minutes a day, readers can get a good sense of significant or major events while keeping up with the trends that may be impacting manufactured housing connected investing.
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In instances such as Apollo, Berkshire Hathaway, Blackstone or others, manufactured housing may only be part of their corporate interests. Note: depending on your browser or device, many images in this report and others on MHProNews can be clicked to expand. Click the image and follow the prompts. For example, in some browsers/devices you click the image and select ‘open in a new window.’ After clicking that selection you click the image in the open window to expand the image to a larger size. To return to this page, use your back key, escape or follow the prompts.
Notice: MHProNews invites the firms or organizations named in these reports to respond to any concerns about possibly inaccurate information via email that identifies the concern and offers evidence that sheds a different light on the topic discussed. That said, until 5.9.2024, neither MHI nor most MHI publicly traded ‘insider brands’ have done so. They’ve been repeatedly invited to do so, including but not limited to an outreach on Dec 7, 2o23 and Feb 25, 2024. In the case of that response linked above, no apparent reply was given to follow up inquires by MHProNews.
