Many Canadians are concerned with how home prices are going to be affected in the upcoming year regarding the recent tariffs.
Jared Zaifman, CEO of the London Homebuilders Association says “Almost every component that goes into a new home build is going to be impacted by the tariffs. So, all of those materials and it can be anything from steel, aluminum, lumber, concrete, gypsum and drywall, even the tools themselves that people use. So, if you need a new tool, those prices are going to be hit with tariffs.”
When asked about any other concerns that he’s heard on his end, Zaifman said this
“A couple things. One certainly just as far as people to know about. I think the consumer confidence is kind of one of the bigger factors right now. And the challenges and the uncertainty. But I think, you know, builders and renovators, they’re quite creative. And we’ll try and work with people to make, you know, a good situation out of a rough one.”
He then brought up what it’s going to be like for the clients of his business.
“Be up front and work with clients. However, that may be because part of the challenge, we’ve had so many people that are looking to make that new home purchase or renovation, but might have been waiting over the last year, in part because inflation rates were so high.”
Zaifman later claimed that there are a lot of good advocacies happening to keep home prices more affordable.
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