As if housing prices in California weren’t astronomical enough, Trump’s tariff wars have boosted the cost for a new home in CA by roughly $20-30 thousand dollars. No, China will not foot the bill for the increases either; home buyers will.
According to Dennis Fitzpatrick, owner of Fitzpatrick Homes, certain appliances subjected to tariffs, counter tops, and other miscellaneous items have aided in increasing costs.
National Association of Home Builders estimates that the tariffs will ultimately “cost home buyers $2.5 billion per year nationwide.”
Obviously, tariffs are not the sole driving factor in CA’s costly housing market but they’re just another added layer that could price out thousands of potential, new buyers.