New tariffs on steel and aluminum imports to the U.S.—plus rumored 'reciprocal tariffs'—could send housing costs skyrocketing, leaving homebuyers footing the bill. Analysts warn of a ripple effect similar to the 2018 trade war, which saw appliance giant Whirlpool incur $350 million in unexpected steel-related costs. 🔨📈
U.S. construction relies heavily on imported materials, with Canada supplying 80% of lumber to some builders. Wisconsin homebuilder David Belman estimates tariffs could add up to $29,000 to the price of a single-family home. 💰'This directly contradicts the goal of affordable housing,' warns the National Association of Home Builders (NAHB).
With housing markets already strained, experts argue tariffs risk repeating past mistakes. 🚧 'American consumers always end up paying,' said an NAHB spokesperson. The group is pushing for exemptions on key materials to avoid worsening affordability crises.
