Reported 19 days ago
The US has implemented significant tariffs on imported timber and wooden furniture, which may drive up renovation costs and hinder new home purchases. Starting at 25% for kitchen cabinets and furniture, and set to rise to as high as 50% in January, these tariffs are part of Trump's broader trade strategy aimed at reshoring manufacturing. Economists warn that these increased costs could offset any benefits from lower mortgage rates, complicating efforts to boost homebuilding and sales in the housing market.
Source: YAHOO