Loan Application Loan App Checklist Mortgage Calculators Contact Us Customer Login

Mortgage Blog

Why Trump Steel Tariff won't hurt housing
March 15th, 2018 1:08 PM
Basically, the residential housing "limited" steel. Steel frames accounted only less than 0.5% of the new SFR and 4% of multifamily buildings. See the article below:

 

The Trump administration's new tariffs on imported steel and aluminum may raise prices on a variety of consumer and commercial products, but will only put minimal strain on the housing industry.

The 25% tariff on steel and the 10% tariff on aluminum are more likely to be a concern for commercial and multifamily construction than the single-family sector, said Tim Rood, managing director at Situs and chairman of consulting firm The Collingwood Group.

"I think for single-family, imported steel and aluminum are going to contribute a small percentage to the home's cost, but when you talk about multifamily and commercial construction, it's substantially higher," said Rood.

But while the American Iron and Steel Institute estimates 43% of steel imports go to the construction industry, very little of it is used in residential construction. Steel frames accounted for less than 0.5% of new single-family houses and about 4% of multifamily buildings, according to Census Bureau estimates.


Posted in:General
Posted by Eric Fang on March 15th, 2018 1:08 PMPost a Comment

Subscribe to this blog

Archives:

Categories:

My Favorite Blogs:

Sites That Link to This Blog: