Home News Industry News US tariffs on lumber imports are driving up housing prices

US tariffs on lumber imports are driving up housing prices

Warning signs are flashing for the U.S. housing market. Existing home sales and new housing starts have both leveled off in recent months. Mortgage rates are on their way up. Homes have become more expensive. And a U.S. tariff on Canadian lumber has only added to the cost.

"They went up 21 percent, then another 21, then another 21, and we went on a record run of price increases in the lumber side of things," said Dave Hoglund, Vice President of Purchasing for Builders, which provides building materials to contractors in six U.S. states.

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Source: CGTN

 
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