Back to today’s briefing

Story perspectives

Trump's Policies Drive Home Prices to Record Highs

5/30/2025

50 4

Left

Trump's Housing Crisis

President Trump's policies are pushing home prices to staggering heights, with the median price soaring to a record $414,000. Tariffs on Canadian lumber have escalated construction costs, leaving builders anxious and confidence waning. As mortgage rates climb to 6.86%, many families find homeownership slipping further out of reach.

Center

Trump Revives Tariffs

A U.S. appeals court has revived President Trump's tariffs, reversing a prior ruling that labeled them illegal. This contentious decision casts a shadow over trade relations, especially with Canada. Prime Minister Carney condemned the tariffs as unwarranted, calling for a fresh economic partnership with the U.S. as trade tensions escalate.

History

Historical Context

President Trump's tariffs on Canadian lumber and other imports echo the protectionist policies of the Smoot-Hawley Tariff Act of 1930, which raised tariffs significantly and contributed to the Great Depression. Similar to past trade wars, these tariffs have escalated tensions, prompting retaliatory measures from Canada and straining long-standing economic partnerships. This could reshape U.S.-Canada relations and impact housing affordability.

1 of 3

Trump's Housing Crisis

President Trump's policies are pushing home prices to staggering heights, with the median price soaring to a record $414,000. Tariffs on Canadian lumber have escalated construction costs, leaving builders anxious and confidence waning. As mortgage rates climb to 6.86%, many families find homeownership slipping further out of reach.

1 / 3