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Indirectly, the tariffs will weaken economic growth, which will also reduce the housing markets vitality.
Heres how Trumps tariffs could impact the housing market.
Next, find outwhich other industries could be most impacted.
Rising Material Costs
Tariffs are taxes that increase the costs of imported goods, including building materials.
With slimmer profit margins, these firms struggle to absorb rising costs, he explained.
Due to the damage from the devastating wildfires, the L.A. area is particularly vulnerable, Winegarden said.
The net result will be higher mortgage rates for borrowers.
Together, the higher rates coupled with the rising cost of construction will significantly reduce housing affordability.
Morgado added, Exploring fixed-rate mortgage options can provide protection against possible interest rate increases linked to economic uncertainties.
Avoid bidding wars that can push homeowners into an unstable position, Winegarden said.
Rising rates coupled with rising prices can be devastating for homeowners who reach too far.
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