Young Americans Housing Plan
Outright Home Ownership in 15 Years = Permanent Affordability
We will tackle the housing affordability crisis by helping working families buy and keep their homes. After the 2008 financial crisis and again during the COVID-19 pandemic, the Federal Reserve held short-term interest rates near zero for more than a decade combined. While this fueled asset prices and benefited large investors and corporations, many average American families were left behind as home prices soared and first-time buyers struggled to compete.
My plan fixes that by offering true 0% interest loans for starter homes up to the local median home price, giving working families and young buyers a real opportunity to achieve homeownership and build generational wealth. For families already carrying high-interest mortgages on their primary residence, we will allow 0% refinancing up to the median home price on a new, affordable 15-year amortizing loan.
With these loans, your monthly payment stays roughly the same as it would be under today’s market rates—but instead of sending money to the bank as interest, you’re paying down principal and building real equity with the goal of outright home ownership in 15 years. These straightforward reforms will increase homeownership, stabilize communities, reduce long-term debt burdens, and strengthen families in Chester and Berks Counties—without distorting markets or adding to the federal deficit.
Borrowers will still pay all the fees they typically pay in originating, insuring and servicing their loan, but the base interest rate will be 0%.
Immediate Relief
0% interest loans offer immediate relief to singles, couples and families. Instead of paying interest, pay down your loan and build wealth.
Build Personal and Generational Wealth
The primary financial goal for the typical American should be outright home ownership. Every mortgage payment goes to principal resulting in building personal and generational wealth.
Fix What’s Broken, Not Raise Taxes
The Federal Reserve did it already - with no cost to taxpayers. It can do it again, but in a targeted way that allows the rest of American to catch-up.
Permanent Affordability
Once you own your home outright, life becomes permanently more affordable. If we can help people achieve this in 15 years or less, then we can fix the affordability crisis permanently.
FAQs
How is this paid for without raising taxes or growing government?
By reclaiming authority that Congress has abdicated to the Federal Reserve, we can direct the Fed to do what it has already done successfully—offer effectively 0% loans—but this time targeted to help average American families instead of primarily benefiting large asset managers and the wealthy.
Through Quantitative Easing (QE), the Federal Reserve can purchase these 0% loans from banks and mortgage brokers that originate them.
Borrowers would still pay standard origination fees, ensuring no direct burden on the taxpayer or the broader financial system.
How fast could we do this?
I believe the Federal Reserve can implement this program today under its existing dual mandate of maximum employment and price stability.
However, if the Fed does not act, Congress must step up and direct it to do so.
Given how quickly the Federal Reserve expanded its balance sheet and purchased assets during the 2008 Financial Crisis and the COVID-19 pandemic, this program could be rolled out in a matter of months.
Isn't this going to create another housing bubble?
No. Homebuyers almost always make decisions based on the monthly payment, not the sticker price. Under my plan, instead of a traditional 30-year mortgage at today’s prevailing rates, qualified buyers can get a 15-year mortgage at 0% interest—with a monthly payment that is roughly the same.
Because the loan is capped at the local median home price, we should not expect asset bubbles in the starter-home market. Families will simply build equity much faster and achieve outright ownership in 15 years instead of throwing money away on decades of interest.
What if I want to purchase a home for $1 million? How does this benefit me?
If it’s your first home or your primary residence (and you do not own any other properties), simply bring enough cash to closing to keep the loan balance at or below the local median home price.
Homeowners with existing mortgages on their primary residence should focus on paying down debt where possible so they can qualify to refinance into one of these 0% or low-cost loans in the future.
