Barbara Corcoran, a well-known real estate expert and star of “Shark Tank,” recently spoke out about the negative impact of President Trump’s new tariffs on the housing market. In a recent interview in New York City, Corcoran expressed her concerns about how the tariffs would affect the affordability of new homes, particularly for those who are less advantaged.
Corcoran highlighted how the tariffs are driving up prices for essential building materials such as lumber and steel, leading to an increase in the overall cost of new homes. She emphasized that the majority of new home construction in the country is geared towards providing affordable housing for the less advantaged. However, with the rising costs of materials, construction on these properties is at risk of coming to a halt, making it even more challenging for individuals to purchase a home at a reasonable price.
In addition to discussing the impact of the tariffs on new housing construction, Corcoran also touched on the rebuilding efforts in Los Angeles following the devastating wildfires. She mentioned that there is a silver lining to the tragedy, as she has witnessed a sense of unity and community support in L.A. like never before.
Overall, Corcoran’s insights shed light on the potential challenges that the housing market may face as a result of the new tariffs. As construction costs continue to rise, it remains to be seen how this will impact the accessibility of affordable housing for those in need. Watch the clip for more details on Corcoran’s perspective on the current state of the real estate market.
