Since I’m a housing and homelessness guy I feel like I need to remind everyone that these tariffs are likely to have a cataclysmic effect on housing affordability and homelessness.
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With any luck though we can get some of these damned stubborn homebuilders to start building more ICF houses instead of the crappy wood frame homes they love printing.
This is why I worry people are also underestimating the risk of a painful recession. If no one can afford to build, that’s lots of people out of work too. Meanwhile, people can’t afford healthcare or groceries or dining out or on and on. And there will be no mitigation, just free fall.
Yes, and as people sink deeper and deeper into debt holding on desperately, they will lose their homes and banks will foreclose on all their stuff. Months and years of pain for Americans. The same Americans that were handed the strongest economy ever 2 months ago. Very very sad.
Buy-side broker, and between the tariffs not exempting steel and lumber and the deportations, new construction is completely fucked. It literally cannot happen at rates anyone could afford.
I work more in commercial than residential, so YMMV here, but what I’m seeing is that people aren’t moving because rates are too high and nothing new is getting built, meaning supply crunch and upwards price movement, but not as rapid as expected yet
Of course! Will also note that, while I only have anecdotal evidence on single family, I can state definitively that there’s pretty robust growth in multifamily rents. My home market is already up over 4% year over year
I’ve been wondering about that. I know someone in a precarious housing situation who is anticipating the nightmare and trying to figure out how to navigate the rough waters ahead
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up that content sched.
He recently died, now this....I don't know what to do. I feel like I should store everything & try to just rent a room or something.