Trump lumber tariff could raise prices of new homes
The Trump Administration's tariff on Canadian lumber couldn't come at a worst time for homebuyers, as the National Association of Homebuilders estimates that the 20% levy could add $3,000 to the price of a new home.
Why it matters: The U.S. consumer is already dealing with a housing shortage. Despite home prices in many markets rising to all time highs, the pace of housing construction remains stuck at levels consistent with previous recessions. Homebuilders are already contending with what they say are burdensome regulations and high lumber prices, and hefty levies of lumber imports will only compound this situation, putting homeownership out of reach for Americans on the margin.