New home prices could spike due to tariffs, report finds
Tariffs have made the price of building a home in the United States $6,000 pricier since 2018 — and that could grow another five digits by 2027, Canadian officials suggest.
An analysis by the Canadian Chamber of Commerce released Tuesday suggested that under current US import tax policy, the cost of building a single-family house could be $14,000 more expensive by the end of 2027.
The findings come as the White House wrestles with the implementation of sweeping taxes on goods imported to the United States, including construction materials from Canada.
"While tariffs account for a relatively small share of overall cost increases (under 4.5% of total construction budgets), they’ve amplified broader market disruptions," the researchers wrote. "Pandemic-era material shortages, especially for lumber and metals, collided with rising global demand and tariff-driven price shocks."
However, the White House has argued that tariffs are a solution to the trade deficit between the U.S. and its trading partners.
“The Administration has consistently maintained that the cost of tariffs will be borne by foreign exporters who rely on access to the American economy, the world’s biggest and best consumer market," White House spokesperson Kush Desai said in a statement to Homes.com on Tuesday. "A new [Council of Economic Advisers] analysis proves just that: prices of imported goods have actually fallen this year despite President Trump’s historic tariffs. Given that housing affordability is significantly worse in Canada than in the United States, the Canada Chamber of Commerce would be better off focusing on issues closer to home.”
Aboveground pools recalled after drownings
About 5 million aboveground pools have been recalled after multiple children drowned, according to the U.S. Consumer Product Safety Commission.
The CPSC announced Monday that it was calling back 48-inch pools with "compression straps" made by Bestway, Intex and Polygroup.
"These straps wrap around the pool on the outside of the supporting poles, and may create a foothold, allowing a child to access the pool and drown. Children can still gain access to the pools using these footholds even if the ladder is removed," the commission said in its statement.
A list of affected models can be found here. The pools were sold nationwide.
Consumers who own any of the listed pools should contact Bestway, Intex and Polygroup for a free repair kit. The kits include a rope to replace the compression strap.
Douglas Elliman introduces lending platform
One of the nation's leading luxury real estate brokerages launched an in-house mortgage platform on Tuesday.
Douglas Elliman said its Elliman Capital product was "designed to streamline the home financing process for clients seeking both traditional and non-traditional loan products." It was developed in collaboration with Associated Mortgage Bankers, a New York-based firm.
The platform will offer clients access to loan products including conventional, jumbo, construction, FHA, VA and USDA loans; investment property financing; and second home mortgages. It also offers flexibility for borrowers in "unique financial circumstances," such as self-employed borrowers or foreign nationals.
Elliman Capital is set to launch in Florida before expanding to all states where Douglas Elliman has a presence.
“By bringing mortgage services in-house, we’re creating an unprecedented level of convenience and oversight to the entire real estate transaction process," Michael S. Liebowitz, the brokerage's president and CEO, said in a statement. "Our clients will benefit from competitive rates, diverse loan products, and the seamless integration that only comes from working with a single, trusted source for both their real estate and financing needs.”