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Wed Jul 11, 2018, 07:13 PM

Trump tariffs to add $9,000 to the cost of a new home.

http://www.mcall.com/business/realestate/mc-biz-homebuilding-tariffs-cost-20180618-story.html

A spike in lumber prices caused by the Trump administration's tariffs on Canadian wood products is one of the biggest burdens on builders, Dietz said.

Lumber prices in the United States have risen 62 percent since January 2017, Dietz said.

“We get a third of the lumber we use in the U.S. from Canada,” he said. “A lumber tariff is very much a tax on homebuyers. It's pushed up the price of a typical home by $9,000.”

Dietz said a lack of construction industry workers is also limiting homebuilding in many U.S. markets.

“Labor has been an issue of the industry for the last four or five years,” he said. “The job openings rate in the construction industry now is actually higher than it was at the peak of the building boom,” even though builders are producing fewer houses than in the early 2000s.

Almost 230,000 building sector jobs are unfilled, Dietz said.


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Reply Trump tariffs to add $9,000 to the cost of a new home. (Original post)
Cattledog Wednesday OP
House of Roberts Wednesday #1
GusBob Wednesday #2
kimbutgar Wednesday #3
tinymontgomery Wednesday #4

Response to Cattledog (Original post)

Wed Jul 11, 2018, 07:35 PM

1. I'm getting lumber at Home Depot from Sweden and Denmark

for my remodeling projects. These tariffs were the first ones, before the Hurricanes tore up Texas and Florida, then Puerto Rico. All the rebuilding has been done with higher priced lumber due to this.

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Response to Cattledog (Original post)

Wed Jul 11, 2018, 07:59 PM

2. Just heard an ad during an MLB game

Brewers at Miami, an ad on Miami radio broadcast

paraphrase: "have heard about the tariffs on aluminum? Could cost you thousands for new AC or repairs! Call now before it's too late!

I'm like Jesus, it's a baseball game!

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Response to Cattledog (Original post)

Wed Jul 11, 2018, 09:11 PM

3. My sister brought a new refrigerator because she read home appliances are going up in price

Last December I brought a new car because my credit union told me interest rates were going up. Which they have.

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Response to Cattledog (Original post)

Wed Jul 11, 2018, 11:41 PM

4. My wife was rear ended in a car crash

My wife was rear ended in a car crash in Dec and the car was totaled.
We ended up buying a new one in Jan. We were hopping to hold out one more year
but now I'm glad we were forced to buy one prior to the tariffs.

Luckily the wife didn't get seriously hurt.

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