Apr 25, 2017

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.

Data: Random Lengths; Chart: Andrew Witherspoon / Axios

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.

Go deeper

Podcast: Blood and oil

Gas prices in the U.S. are stable, despite the unfolding crisis with Iran. Dan and Axios energy reporter Amy Harder discuss if this is the new normal.

Go deeper: Why oil prices aren't rising

Americans are moving less

Data: Census 2019 Current Population Survey Annual Social and Economic Supplement; Chart: Danielle Alberti/Axios

Fewer than 10% of Americans moved to new places in the 2018-2019 year, the lowest rate since the Census Bureau began tracking domestic relocations in 1947.

Why it matters: Despite a strong economy, more people are feeling locked in place. Young adults, who have historically been the most mobile, are staying put these days thanks to housing and job limitations. So are aging adults who are reluctant to (or can't afford to) make a move.

What Middle East crisis? Why oil prices aren't rising

Data: EIA; Chart: Axios Visuals

Despite rising unrest in the Middle East — including the death of an Iranian commander — America’s average gasoline prices have remained under $3 a gallon.

Why it matters: Practically speaking, it’s great for drivers’ pocketbooks — and President Trump’s re-election campaign. It also shows the remarkable cushion created by the United States' booming oil production, which has doubled over the last decade.

Go deeperArrowJan 8, 2020