{"id":129225,"date":"2024-11-23T16:24:49","date_gmt":"2024-11-23T09:24:49","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=129225"},"modified":"2024-11-23T16:24:49","modified_gmt":"2024-11-23T09:24:49","slug":"how-donald-trumps-immigration-policies-could-affect-housing-prices","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=129225","title":{"rendered":"How Donald Trump\u2019s immigration policies could affect housing prices"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<div id=\"post-top-component\">\n<div class=\"o-section mp-show-subscribe mx-auto my-12\" style=\"max-width:550px\">\n<div class=\"mp-show-subscribe__body\" style=\"background:#f6feff;border-color:#f6feff\">\n<header class=\"flex\">\n<div class=\"left w-3\/5 min-tablet:w-1\/2 p-12\">\n\t\t\t\t\t\t<a href=\"https:\/\/www.marketplace.org\/shows\/marketplace\/\" data-title=\"Marketplace\"><img decoding=\"async\" class=\"block lazyload\" src=\"https:\/\/www.marketplace.org\/wp-content\/uploads\/2019\/03\/shows-fallback-branding.png?w=225\" title=\"Marketplace\"\/><\/a><\/p><\/div>\n<\/header><\/div>\n<\/p><\/div>\n<\/div>\n<p>President-elect Donald Trump has proposed sweeping changes to immigration policy, taxes and tariffs.<\/p>\n<p>He <a href=\"https:\/\/www.nbclosangeles.com\/news\/business\/money-report\/heres-what-a-trump-presidency-could-mean-for-your-taxes\/3554854\/\" target=\"_blank\" rel=\"noreferrer noopener\">wants to extend temporary tax cuts <\/a>that were implemented as part of 2017\u2019s Tax Cuts and Jobs Act and <a href=\"https:\/\/www.bankrate.com\/taxes\/lower-taxes-higher-tariffs-what-trumps-tax-plans-mean-for-you\/\" target=\"_blank\" rel=\"noreferrer noopener\">eliminate taxes on benefits like Social Security. <\/a>He has even suggested <a href=\"https:\/\/www.cnn.com\/2024\/10\/26\/politics\/trump-income-taxes-tariffs\/index.html\" target=\"_blank\" rel=\"noreferrer noopener\">replacing the federal income tax with revenue from tariffs, <\/a>even though experts say tariffs <a href=\"https:\/\/www.marketplace.org\/2024\/11\/13\/why-the-u-s-once-relied-on-tariffs-to-raise-revenue-and-what-it-would-mean-to-go-back\/\" target=\"_blank\" rel=\"noreferrer noopener\">wouldn\u2019t generate enough to pay for<\/a> any of the major federal spending categories, like Medicare or defense.\u00a0<\/p>\n<p>He\u2019s <a href=\"https:\/\/www.marketplace.org\/2024\/11\/04\/tariffs-trade-war-trump-election-taxes-import-duties-economy-taxes-china-mexico\/\" target=\"_blank\" rel=\"noreferrer noopener\">promised to impose tariffs<\/a> of up to 20% on all imported goods, 60% or higher tariffs on Chinese goods and up to 100% levies on goods from Mexico if that bordering nation doesn\u2019t end unsanctioned immigration.\u00a0<\/p>\n<p>Trump also says he wants to implement a mass deportation program that would <a href=\"https:\/\/www.forbes.com\/sites\/andyjsemotiuk\/2024\/05\/02\/trumps-plan-to-deport-11-million-undocumented-immigrants--impossible\/\" target=\"_blank\" rel=\"noreferrer noopener\">target millions of unauthorized immigrants.<\/a>\u00a0<\/p>\n<p>It\u2019s important to add the caveat that Trump has a history of making promises<a href=\"https:\/\/www.marketplace.org\/2024\/11\/06\/how-trumps-plan-to-deport-more-immigrants-could-affect-the-economy\/\" target=\"_blank\" rel=\"noreferrer noopener\"> that don\u2019t pan out, <\/a>like his plan to <a href=\"https:\/\/www.marketplace.org\/2017\/08\/24\/mexico-sun-taxes-shutdown-not-pay-trump-border-wall\/\" target=\"_blank\" rel=\"noreferrer noopener\">build a giant wall <\/a>between the U.S. and Mexico <a href=\"https:\/\/www.cnn.com\/2023\/10\/30\/politics\/fact-check-trump-mexico-piece-border-wall\/index.html\" target=\"_blank\" rel=\"noreferrer noopener\">that would be paid for by Mexico<\/a>, Marketplace\u2019s Matt Levin has pointed out.\u00a0<\/p>\n<p>Some of his plans could restrain U.S. economic growth, experts have said, <a href=\"https:\/\/www.marketplace.org\/2024\/11\/06\/how-trumps-plan-to-deport-more-immigrants-could-affect-the-economy\/\" target=\"_blank\" rel=\"noreferrer noopener\">and push up the costs of goods and services, including construction. <\/a>Here\u2019s a look at what his policies could mean for housing.\u00a0<\/p>\n<h3 class=\"wp-block-heading\" id=\"h-immigration\"><strong>Immigration<\/strong><\/h3>\n<p>Both documented and undocumented workers perform a \u201csubstantial portion\u201d of the labor in the construction industry, said Brett House, an economics professor at Columbia Business School.\u00a0<\/p>\n<p>Deporting immigrants would cut into the industry\u2019s workforce and, House said, likely increase the cost of home construction and renovation. Others amplify that concern. <\/p>\n<p>Jim Tobin, president and CEO of the National Association of Home Builders, said the group is keeping an eye on what Trump\u2019s plans will mean for the availability of workers.\u00a0<\/p>\n<p>\u201cWe face a persistent deficit of skilled labor in our industry,\u201d Tobin said. \u201cAbout a quarter to a third of our labor comes in from overseas.\u201d\u00a0<\/p>\n<p>Trump and Republican lawmakers <a href=\"https:\/\/www.reuters.com\/world\/us\/trump-republicans-link-immigrants-high-us-housing-prices-researchers-disagree-2024-10-11\/\">say immigrants are responsible for higher housing costs.<\/a> But when deportations do ramp up, the demand drop <a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=4729511\">is merely temporary, <\/a>according to professors at the University of Utah, Amherst College and the University of Wisconsin-Madison. Decreasing demand doesn\u2019t compensate for the deportation-driven contraction in building.\u00a0<\/p>\n<p>Adam Guren, an economics professor at Boston University, dismisses the idea that an immigration crackdown would ease the country\u2019s affordability crisis. \u201cThe only way out of that is to build housing,\u201d Guren said.\u00a0<\/p>\n<h3 class=\"wp-block-heading\" id=\"h-tariffs\"><strong>Tariffs<\/strong><\/h3>\n<p>If tariffs proliferate, the cost of building materials could rise, Tobin said. That\u2019s because tariffs are a tax that U.S. importers pay to the U.S. government.\u00a0<\/p>\n<p>\u201cSometimes builders will absorb that, oftentimes it ends up in the final cost of the house,\u201d Tobin said.\u00a0<\/p>\n<p>On the other hand, tariffs could spur production of U.S. materials used in home construction, Tobin said.\u00a0\u201cThat could keep prices low, and we would buy more American products,\u201d he said.\u00a0<\/p>\n<p>Homebuilders get a third of their lumber from Canada, and that lumber already <a href=\"https:\/\/www.nahb.org\/blog\/2024\/08\/canadian-lumber-tariffs\" target=\"_blank\" rel=\"noreferrer noopener\">has a nearly 15% tariff, <\/a>Tobin said.\u00a0<\/p>\n<p>\u201cIf homebuilding picks up next year, which we fully expect, it is my sincere hope that those tariffs actually provide American businesses not just with protection but reason to ramp up the production of lumber,\u201d Tobin said.<\/p>\n<p>Oregon and Washington are currently <a href=\"https:\/\/www.yorksaw.com\/guide-to-sawmills\/sawmills-in-the-usa\/\" target=\"_blank\" rel=\"noreferrer noopener\">the top lumber-producing states. <\/a><\/p>\n<p>Even if the cost of materials goes up, there are more important factors that determine a home\u2019s price.\u00a0<\/p>\n<p>\u201cIn Southern California and other high-priced areas, it\u2019s not the cost of materials that makes home prices high. In Southern California, the land is by far the biggest component of a house price,\u201d said Edward Coulson, an economics professor at the University of California, Irvine, and director of the school\u2019s Center for Real Estate.<\/p>\n<h3 class=\"wp-block-heading\" id=\"h-taxes-nbsp-nbsp\"><strong>Taxes\u00a0\u00a0<\/strong><\/h3>\n<p>Trump\u2019s tax cut policies could boost housing demand, which could likewise boost prices, House said.<\/p>\n<p>And although tariffs themselves might not influence home prices in a big way, those import levies could influence Federal Reserve interest rate policy. That\u2019s because, House said, the combined effect of higher tariffs and lower taxes could stoke inflation, preventing the central bank from cutting rates.\u00a0<\/p>\n<p>If the Fed is reluctant to cut rates, the cost of borrowing won\u2019t go down, which in turn could keep building costs high. <\/p>\n<p>\u201cOne of the biggest determinants of the cost of housing and new home construction is the cost of financing that construction,\u201d House said.<\/p>\n<p>For prospective homebuyers, it could feel like there\u2019s no shelter in a market that\u2019s just as tough next year as it\u2019s been in the last few years. <\/p>\n<div id=\"global-giving-item\" class=\"padded\" style=\"background-color: #defcf2\">\n<p><b><span data-contrast=\"none\">There\u2019s a lot happening in the world.\u00a0 Through it all, Marketplace is here for you.<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">You rely on Marketplace to break down the world\u2019s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p style=\"text-align: center\"><span data-contrast=\"none\"><a href=\"https:\/\/support.marketplace.org\/mkp-instory\">Your donation today powers the independent journalism that you rely on<\/a>. <\/span><b><span data-contrast=\"none\">For just $5\/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you. <\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<\/div><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.marketplace.org\/2024\/11\/22\/how-trumps-policy-proposals-could-affect-housing-prices\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President-elect Donald Trump has proposed sweeping changes to immigration policy, taxes and tariffs. He wants to extend temporary tax cuts that were implemented as part of 2017\u2019s Tax Cuts and &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=129225\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-129225","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/129225","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129225"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/129225\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}