The housing market's slump is getting worse, Axios' Courtenay Brown reports.
Why it matters: There's a shortage of affordable homes in America, but homebuilders face a slew of Trump-era factors that are holding back more building.
Tariffs are making home construction more expensive, while the deportation crackdown threatens the immigrant workers who do much of the actual building.
⚒️ The latest: New data show that builders broke ground on new homes last month at the slowest pace in five years.
The issuance of building permits, an indicator of the appetite to build homes, also hit a five-year low.
Sentiment among homebuilders has dropped to the lowest level since 2022.
