- The housing world is in for another lackluster spring selling season as tariff fears and more weigh on homebuilders and would-be buyers. The wealthy are the only silver lining in the housing market—and even that may change.
Zonda chief economist Ali Wolf felt optimistic about one thing in particular when President Donald Trump was elected: He understood real estate. So when homebuilders asked her about tariffs in January, she told them she couldn’t imagine a real-estate-savvy president would place taxes on building materials when housing is so unaffordable for many Americans, something he promised to fix on the campaign trail. Then, in March, Trump did exactly that, placing tariffs on imported steel and aluminum. Tariffs on imported lumber could come in April.
