Home builders are gloomy over Trump's tariffs and economic uncertainty
Home builders are feeling the sting from President Donald Trump's trade war and growing economic uncertainty, adding to the challenge of building enough homes to fix America's shortage.
Builder sentiment in the market for new homes has been slumping for months and stayed low in April, according to the National Association of Home Builders/Wells Fargo Housing Market Index released Wednesday. When asked about tariffs' effect on their businesses, 60 percent of builders said their suppliers have already increased, or announced increases, on goods prices because of tariffs. Builders are estimating a typical cost effect of nearly $11,000 per home, given how many products from abroad will be hit by the trade war.
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