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HousingWire Daily
James Kleimann on major housing policy shifts over the last two weeks
Feb 4, 2025
James Kleimann, Managing Editor of HousingWire, shares his insights on the whirlwind of housing policy changes under the new Trump administration. He discusses the recent tariff changes affecting building costs and their implications for housing affordability. The conversation delves into the evolving role of the CFPB and the regulatory uncertainties facing mortgage banks. Kleimann also examines the potential exit of GSEs from conservatorship, highlighting the importance of a balanced approach to housing regulation amid ongoing market challenges.
36:25
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Quick takeaways
- Recent tariff changes significantly affect the housing market by impacting the cost of building materials, especially Canadian lumber imports.
- The firing of CFPB director Rohit Chopra raises concerns about regulatory stability for the mortgage industry and potential returns to predatory lending practices.
Deep dives
Impact of Tariffs on Housing Costs
Recent tariff decisions have potential consequences for the housing market, particularly concerning Canadian and Mexican imports. Canadian lumber plays a crucial role, accounting for about 30% of the wood used in American home construction, making the outcome of these tariffs significant for home builders. Previous tariffs in 2021 led to price hikes exceeding 30% for building materials, highlighting the sensitivity of housing prices to tariff changes. With building materials representing 25% of imports, any additional tariffs are likely to escalate housing costs, complicating an already challenging economic landscape.
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