Trump's Tariffs Hitting First-Time Home Buyers

Discussion in 'Economy' started by Toro, Sep 9, 2018.

  1. Toro
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    Toro Diamond Member

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    There is a shortage of homes for first-time home buyers. This is due, in part, to regulations imposed after the Global Financial Crisis that make it harder and more expensive to build houses. But Trump's trade taxes are also exacerbating the shortage as his trade taxes have added almost $10,000 to the cost of a home. One homebuilder I was talking with told me that the biggest demand is for homes below $300,000 where I live, but homebuilders can't make any profit at that price level, so they aren't building.

    House building is an integral part of the US economy. The economy is doing well, but could be doing better without the extra taxes on homes.

    Homebuilders throughout the U.S. have seen stratospheric price increases on steel, aluminum, lumber and other core housing materials this summer due to tariffs imposed by the Trump administration, and experts say the industry is bracing for continued pain, as the president appears likely to move forward with a proposed tax on at least $200 billion worth of goods imported from China.

    The tariffs put in place this spring on materials like steel and aluminum—the result of President Donald Trump’s hardline stance on international trade—have already added roughly $9,000 to the build cost of a new home, based on an average U.S. home price of $285,000, said Jerry Howard, CEO of the National Association of Home Builders. The Washington, D.C.-based organization represents more than 140,000 homebuilders and other industry workers.
    Trump Tariffs Have Hit U.S. Home Builders Hard, But Luxury Market is Mostly Unscathed
     
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  2. sparky
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    sparky Gold Member

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    more winning.....for Trump's bankster buds!

    ~S~
     
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  3. Billy_Kinetta
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    Billy_Kinetta Paladin of the Lost Hour Gold Supporting Member Supporting Member

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    You are not entitled to a home. Go make more money.
     
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  4. fncceo
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    fncceo Gold Member

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    My home was made in China.

    [​IMG]

    The ceilings are too low.
     
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  5. DrLove
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    DrLove Gold Member

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    Yep, Donald's stupid trade war is gonna lose him a butt-ton of votes in the rust belt as well as traditionally red southern states like South Carolina. He is probably unaware that Mercedes, BMWs and Volvos are being manufactured here by the thousands.

    BRUSSELS — President Trump has complained about seeing too many German cars on Fifth Avenue, and threatened heavy tariffs on the companies that produce them. There is a good chance, though, that those Mercedes-Benzes and BMWs were not only made in the United States, but made by workers who voted for Mr. Trump.

    European companies have turned Alabama, South Carolina and Tennessee into auto manufacturing powerhouses in recent years, churning out cars not just for American buyers but also for export to China and Europe. Germany’s three biggest carmakers all have facilities there, and Volvo Cars, which is owned by a Chinese company but based in Sweden, began producing at a new plant in South Carolina just last month.

    Yet being major employers in regions that voted heavily for Mr. Trump has not protected them.​

    Trump Voters May Be the Biggest Losers From Trump’s Auto Tariffs
     
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  6. william the wie
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    william the wie Gold Member

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    It all depends on location and state and local taxes The lot my house is on is worth more than $300,000. Five miles west I could build a palace in a property swap with no cash out of pocket.
     
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  7. bear513
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    bear513 Diamond Member

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    So is that the Auto industry you guys said Obama saved?


    .
     
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  8. DrLove
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    DrLove Gold Member

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    No, that was more the American manufacturers in Detroit. Don't believe Volvo, BMW or Mercedes were given any low interest loans. Plus, they didn't have the presence here then that they do now.
     
  9. bear513
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    bear513 Diamond Member

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    You little liar, BMW was the biggest car exporter from America during the middle of the Obama administration as they are today, the only thing that changed was Nikki got Volvo in South Carolina.
     
  10. Manonthestreet
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    Manonthestreet Platinum Member Supporting Member

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    What we need is more govt programs so you can borrow more than you can pay back.....cause racism.....
     
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