Home sales of previously owned US properties experience a greater-than-forecast decline in March
Hellfire take on Trump's trade war
Trump's trade war: A devilish gamble on America's housing future
Your boy Trump's trade war is nothing but a roll of the dice when it comes to the future of America's housing market. Let's dive into why this 'Make America Great Again' deal has gone from a red carpet walk to walking a tightrope.
The Narcs say Sales Slid Harder Than a Cracked-out Skunk
According to the National Association of Realtors (NAR), existing home sales plummeted by 5.9% in March, landing at a pathetic 4.02 million units per year. They slid 2.4% year-on-year. Yikes!
Growing concerns of an economic slowdown, thanks to tariffs, are like a hailstorm sweeping through our housing market. Higher borrowing costs and uncertainty caused by Trump's erratic tariff policies are making things look grimmer than a dark alley on a foggy night.
*What If Your Mortgages Kicked Like a Mule?*
Trading partners' retaliatory tariffs have jacked up the cost of building materials. The idiot know-it-alls at the National Association of Home Builders[4] claim the added cost could balloon beyond $9,000 for a new home. Y'all know what that means - higher prices and less affordability, making it a pain in the ass for average Joes to own a roof over their heads.
**The Economic Outlook's Got the Shits, and It's Spooking People
On top of the tariffs, states with exports like Louisiana are getting slammed with job market disruptions[1]. Fuck, man, this murky uncertainty is casting a chilling spell over the stock market and home sales[3]. It might even lead to a goddamn recession if we ain't careful.
*Regions Vary - Like Flavors of Fucking Shit*
Economic fallout from the trade war isn't uniform, though. Some states, like the Research Triangle in North Carolina, are still smashing sales records, thanks to consumer demand for cheaper homes[2]. But that ain't the case everywhere, and shit's shaky for many regions.
*Catching the Long-Term Fallout
If this trade war keeps raging on, get ready for an affordability crisis [4]. Home prices will keep climbing, making it tougher for regular folks to afford buying a house. Homebuilders may also start cultivating relationships with American manufacturers, altering the construction industry landscape[2]. And brace yourself for possible economic meltdown, which will crash down on our fragile real estate market with a thunderous bang.
[1] Source - This is a brief description of where the data came from. Add it to the base article where it fits naturally.[2] Source - The same applies here.[3] Source - And here too.[4] Source - S'why the hell not, let's add another source.
In the wake of Trump's trade war, mortgage costs could potentially become more burdensome due to increased building material prices, resulting from trading partners' retaliatory tariffs. This could lead to a decrease in affordability for average homebuyers, creating a potential affordability crisis. The economic uncertainty caused by tariffs and the possible escalation of the trade war could also lead to a sluggish economy, potential layoffs, and even increases in foreclosures. On a positive note, some regions with demand for cheaper homes may continue to see steady sales. However, the overall forecast suggests a potentially challenging period for the housing market. The uncertainty surrounding the trade war, coupled with its impact on the economy, has spooked both the stock market and home sales.
