A careful look at Trump's so-called "executive order" to lower housing costs seems more like a strongly- worded suggestion than an actual order.
In an executive order signed Monday night, Trump ordered the heads of all executive departments and agencies “to deliver emergency price relief, consistent with applicable law, to the American people.”
Did you notice the phrase "consistent with applicable law?" He is ordering the heads of the executive departments and agencies at the federal level to look into this, but local laws and regulations will still apply.
Actually, the tariffs Trump is proposing may add to the cost to build new houses.
In 2018, the National Association of Home Builders estimated that the tariffs the first Trump administration placed on Canadian softwood lumber added nearly $9,000 to the cost of constructing a single-family home. The impact on lumber prices was dramatic, with costs rising close to 80% year over year, in part due to the taxes.
So, if Trump follows through on his promised 25% tariffs on Canadian goods, including lumber, new houses will likely cost more, not less.
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