🌍📈 How Tariffs Influence Housing Prices 🏡💰
Hello Hampton Roads, Picture this: you're about to buy your dream home, only to find out that global trade policies are quietly working behind the scenes to shape its price. It might sound far-fetched, but tariffs—those taxes on imported goods—can create ripples that reach all the way to the housing market. These taxes can increase the cost of essential building materials, ultimately raising construction expenses. For homebuyers and sellers alike, understanding this connection is key in today's market. The Rising Costs of Building Tariffs are often intended to protect domestic industries by making imported goods more expensive. However, when core construction materials like lumber, steel, or aluminum are hit with tariffs, the cost of building homes inevitably goes up. Take lumber, for example—about a third of the wood used in U.S. construction comes from Canada. Add to that drywall (gypsum), which is often imported from Canada, Mexico, or Spain, and it’s easy to see how tar...
