Democrat presidential candidate Joe Biden is wooing wealthy real estate developers, outpacing President Trump in contributions from the industry.
Analysis from the Center for Responsive Politics reveals that Biden has taken about $19.8 million from real estate professionals, which is 19 percent more than Trump has taken.
As Forbes has noted, billionaire real estate brokers such as George Marcus have donated millions to elect Biden and Democrats this election cycle.
Biden’s housing plan, as Breitbart News reported, would implement an unprecedented expansion of Section 8 housing vouchers while requiring that local communities abolish strict zoning laws in order to become eligible for certain federal grants.
The plan provides a $300 million investment “to give states and localities the technical assistance and planning support they need to eliminate exclusionary zoning policies and other local regulations that contribute to sprawl.”
Communities unwilling to eliminate their zoning laws to allow multi-family, mixed-income housing development in their neighborhoods would be shut out of federal grants under Biden’s plan.
Biden’s housing policy has also excited Wall Street investors who see the expansiveness of his plan as a cash cow. During a campaign event last month in Wisconsin, Biden touted Wall Street’s support for his housing plan, saying it would increase GDP.
John Binder is a reporter for Breitbart News. Follow him on Twitter at @JxhnBinder.