Tarek El Moussa, a real estate investor and HGTV star, warns that the new tariffs imposed by President Trump will significantly impact first-time homebuyers and builders, while luxury buyers remain relatively unaffected. The tariffs, intended to bolster U.S. manufacturing, are expected to escalate building costs, which may lead to a slowdown in home construction amidst an ongoing housing crisis. El Moussa compares current prices to previous years, highlighting the stark increases in home purchase and renovation costs, emphasizing the urgent need for affordable housing solutions.
"The costs are going up, and really, who it's going to hurt: new-home builders, first-time buyers. Luxury buyers, it's not really going to affect them."
"The biggest problem with building is the cost of building itself, and that's why the prices keep going up. And what's going to happen if it gets too expensive?"
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