Kennedy Jr plans to issue new mortgages to tackle skyrocketing house prices

KNOXVILLE - Presidential candidate Robert F. Kennedy Jr said on Sunday that he plans to issue new types of mortgages to deal with skyrocketing house prices that American citizens cannot afford, reported Sputnik.

In the past two years, house prices in the United States have increased from US$215,000 to US$400,000. At the same time, the mortgages grew from three per cent to seven per cent, while American young adults were busy repaying their college loans.

"First of all, I'm going to work on changing the tax code... I'm going to issue a new class of mortgages at three per cent interest, and I'm going to do this without driving up the budget so that American individuals who want to get into the single-family homes can get one of these special mortgages," Kennedy told the audience during his "Independent Tour" in Tennessee.

He noted that companies like BlackRock compete with American youth because, thanks to its perfect credit score, the company ended up paying 30 per cent less in real estate prices, while young people who have no or poor credit history, end up paying high fees.

Kennedy is a presidential candidate for the 2024 race who had decided to run independently of the two major parties - the Republicans and Democrats.

Kennedy said there is a "rising tide of discontent" in the US, wanting to make a "new declaration of independence" - from corporations, the media, and the two major political parties. - BERNAMA-SPUTNIK