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Forbes
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How Trump’s First Round Of Executive Orders May Impact Jobs And Housing Costs
- President Donald Trump signed an executive order aimed at cutting federal regulations in housing that hindered affordable housing production. While this could spur developers to create more affordable housing, experts noted that land use regulation is up to states, not the federal government.
- Although Trump's order can only do so much, a federal push could encourage states to take action, along with cutting construction costs by potentially easing environmental reviews or simplifying approval processes.
- Trump's latest immigration crackdown could further hit homebuyers by making it even harder to build new homes, driving prices higher and leaving fewer options. Immigrants play a crucial role in construction, and even now, without enough workers, costs are already rising quickly.
- Recent tariffs have already driven up construction costs, with Adam Hamilton, CEO of REI Hub, indicating that higher tariffs on building materials distract development and shift the focus to higher-end homes.
- While short-term jobs may rise in manufacturing, due to the import tariffs on neighboring countries, the long-term impact is uncertain, and is also expected to cause production costs to skyrocket.
- Companies weighing the cost of operating under new trade rules makes job stability and fair wages key concerns for interested candidates in different sectors.
- Trump's new executive orders bring consequential changes to the housing market such as deregulation, tariff hikes and new emphasis on domestic manufacturing.
- Trump and the US' housing market will face significant legal and logistical hurdles despite adding broad directives to lower the cost of housing and expand housing supply.
- Despite Trump's emphasis on deregulation, areas like parking requirements, lot sizes and building codes are still under state rule which limits affordable housing production.
- The federal government does not control many housing laws making it difficult for Trump's policy to run smoothly despite his removal of roadblocks.
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