Items Tagged with 'tariffs'

ARTICLES

  • Trump announces in NAR speech that he's lifting steel and aluminum tariffs

    NAR tweets: "MAGA hats will not be handed out at the door"
    President Donald Trump used his one-hour speech at the National Association of Realtors convention on Friday to announce the U.S. would be lifting steel and aluminum tariffs on Canada and Mexico. The president also said he fondly recalled his decades in the real estate industry and said he plans to return to it when he’s out of office.
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  • U.S. economic growth may be casualty in trade war with China, Fannie Mae says in new forecast

    Mortgage rates will probably average 4.2%, higher than the 4.1% forecasted last month
    Fannie Mae, the largest mortgage financier, boosted its forecast for mortgage rates and lowered its prediction for GDP growth for the remaining quarters this year, citing the tariff war with China as a primary reason. GDP growth in the U.S. will probably be 1.7% for the current quarter, down from the 2.1% growth the mortgage giant predicted last month before negotiations over a trade pact with China veered off-course.
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  • Tariffs boost housing renovation costs after Zillow and others go all-in on iBuying

    Costlier supplies will shrink “razor thin” margins as iBuyers move into new markets
    The United States and China are locked in a tit-for-tat trade war that will boost the price of materials that go into home renovation and construction. The higher costs come as iBuyers such as Zillow, Opendoor and Offerpad are expanding into new markets with plans for fixing up and reselling homes. "In iBuying, it's razor-thin margins anyway, so any sort of ripple in the pond has the potential to disrupt," said Mike DelPrete, a real estate strategist.
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  • Trump calls for Fed to reduce interest rates amid trade war with China

    Says lower interest rates would bolster economy
    President Donald Trump took to Twitter on Tuesday morning to air his thoughts on the trade war with China, where he hinted at monetary actions from the Federal Reserve. Trump explained that China would most likely manipulate its interest rates to keep its economy going during the trade war, but said that if the U.S. did the same, it would be "game over."
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  • NAHB chief economist: Tariff tweets could be signaling pricier U.S. homes

    Higher construction costs would be passed on to homebuyers
    President Donald Trump’s tweets escalating the U.S.-China trade war weren’t just a threat to the stock markets and the agricultural sector. Housing could be affected as well. "Additional tariffs on a country like China, where we get many of our construction products, are an additional tax on homes," Robert Dietz, chief economist at the National Association of Home Builders, said in an interview.
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