Seattle Times Highlights NAHB’s Opposition to Lumber Tariffs
The Seattle Times has published an editorial by NAHB Chairman Chuck Fowke that lays out a strong case against tariffs on Canadian lumber shipments into the United States that are fueling lumber price volatility and harming housing affordability.
Under the headline, “Tariffs on Canadian Lumber are Driving Up Home Prices,” Fowke lays out a strong case on how the Commerce Department’s recent move to double tariffs on Canadian lumber from 9% to 17.9% has effectively delivered a body blow to American home buyers, renters and businesses that rely on lumber products.
He further cites the reasons for the latest lumber price surge and provides specific actions that policymakers need to take to reduce price volatility and increase supply.
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As energy efficiency mandates are becoming more difficult and costly to meet, the National Green Building Standard (NGBS) is emerging as an attractive alternative. Alternative code compliance options - like NGBS Green - are beneficial to local jurisdictions and builders alike, as they provide compliance flexibility without compromising energy performance, and can streamline permitting processes and timelines.
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The percentage of new apartment units that were absorbed within three months after completion was down five percentage points in the first quarter, according to the Census Bureau’s latest release of the Survey of Market Absorption of New Multifamily Units (SOMA).
New single-family home size had been falling since 2015 in response to declining affordability conditions. An exception occurred in 2021, when new home size increased as interest rates reached historic lows.
The latest report shows the Federal Reserve’s preferred inflation gauge remains sticky in July, complicating the Fed’s path to its long-term 2% target. Meanwhile, consumer spending remains resilient but is showing signs of slowing, with real consumer spending unchanged in July. Households are pulling back on spending amid persistent inflation.