Shark Tank's Kevin O'Leary Seeks Faceoff With VP Harris On $25K First-Time Homebuyer Assistance

"Shark Tank" star Kevin O'Leary wants to interview Vice President Kamala Harris about her proposal to provide $25,000 in down payment assistance to first-time homebuyers.

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O'Leary, a prominent figure in the real estate industry, criticized the proposal and called for a live discussion to delve into the plan’s details.

"I'm in the real estate business," O'Leary said on Fox News's "The Ingraham Angle." "That's a really bad idea, an immensely bad idea, an incredibly bad idea. I'd like to interview her on that idea. I'll do the interview. I want it live."

Harris is pushing for up to $25,000 in down payment assistance to help people purchase their first homes. The initiative builds on a previous proposal from the Biden administration, which aimed to provide $25,000 in down payment assistance to 400,000 first-generation homebuyers and a $10,000 tax credit for first-time buyers.

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Under Harris's proposal, the plan would extend assistance to all eligible first-time homebuyers, including families who have paid their rent on time for two years. First-generation homeowners would receive additional support.

The proposal addresses the ongoing difficulties many Americans face due to rising housing costs, making it challenging for first-time buyers to afford homes.

Harris's campaign suggests the initiative could benefit more than four million first-time buyers over the next four years.

But O'Leary says the plan is flawed.

"If everybody in the street has $25,000 extra and there's one home for sale, the seller's going to get the $25,000 by raising the price $25,000," O'Leary said. "I've been very vocal about this policy."

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Not everyone shares O'Leary's views. Arrived Homes President Tai Christensen said a federal subsidy for first-time buyers may fuel housing cost increases if it is not balanced with an increase in supply. Harris's proposed tax credits for homebuilders could boost new construction and keep housing prices in check. 

She said the proposed tax credits could allow more people to purchase a home.

"Anything that increases homeownership, specifically in marginalized, low- to moderate-income communities, we are in complete support of," Christensen told Realtor.com. "Homeownership is the No. 1 vehicle for wealth creation for the majority of Americans and to have opportunities to expand that benefit to more Americans, we're completely in support of whatever that looks like."

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CNN's Dana Bash recently interviewed Harris while appearing on the network alongside her running mate, Tim Walz. The interview received mixed reactions, with some critics saying that Harris seemed "weak" and "ineffective" for delaying the interview for weeks and for sharing the spotlight with Walz.

"It was more happy talk about the convention slipping over, pictures of the kids – you know what I'm beginning to think?" O'Leary said. "And, look, don't shoot the messenger. Maybe she can't do a real interview with a live reporter who asks follow-up questions."

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