Federal tariffs on materials from Canada, China, and Mexico are set to drive up homebuilding costs, particularly for manufactured homes, warns Jeff Cook, CEO of Cook Properties.
Cook, whose company develops affordable housing, says tariffs on lumber, steel, and vinyl could add $5,000 to $10,000 to home prices, exacerbating a post-COVID surge in costs. Despite demand, higher prices may further strain inventory and affordability.
With limited supply and rising costs, homeowners could face increased tax burdens as reassessments reflect inflated home values. Experts warn these combined pressures could further impact the housing market.
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