The Canadian government has released a comprehensive list of American goods that will be tariffed.
The list includes cheeses, meats, milk, fruits, vegetables, coffee, spices, chocolates, pastas, fruit juices, beer, wine, liqueurs, tobacco, perfumes, beauty products, kitchenware, car parts, lumber, toilet paper, clothing and household items.
I’m thinking lumber is going to hurt too. So much of our home building in the USA is make with Canadian lumber. This right at a time when we need to build more housing than ever. So now new home prices are going to go up by a chunk for just the new raw material price increases. This will have a on-knock effect on existing home prices increasing them too.
I mean 10% of the US houses sit vacant, so that seems aggressive when it should be we need to house people rather than build more houses
https://finance.yahoo.com/news/5-6-million-vacant-homes-113019822.html
Home prices are artificially increased by corporations building / buying homes in the interest of renting them. I’m not sure the impact a lumber shortage having for those struggling with housing, but if it works to pop the real estate bubble, I’m all for it
Your own link tells the tale:
“Despite the vacancies, the housing supply remains tight. According to Realtor, homeowner vacancy rates stand at just 0.9%, while rental vacancy rates are at 6.6% – both near historic lows. Jones said that “for-sale inventory remains more than 20% below pre-pandemic levels,” which drives home prices despite waning buyer demand.”
That’s certainly one driver, but not the only one. The largest home builders are still mostly building for sale to individuals.