Tuesday, July 18, 2017

HOMEBUILDER CONCERN: Trump Lumber Tariffs Are Pushing the Cost of Housing Higher

Like I said Trump is an ass.

A monthly index of homebuilder confidence in the single-family market fell 2 points in July to 64 from a downwardly revised June reading.

"Our members are telling us they are growing increasingly concerned over rising material prices, particularly lumber," said National Association of Home Builders Chairman Granger MacDonald.

New tariffs on Canadian lumber of up to 24 percent announced by the Trump administration in May, as well as the expectation of additional tariffs on other homebuilding materials imported from overseas, are overtaking the benefits of deregulation. The cost of framing lumber has spiked in recent months and continues to rise today, notes CNBC.


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