Raising a toast to the latest in housing havoc! With interest rates already giving homebuyers a hard time, President Trump decided to spice things up with sweeping tariffs on imports from our friends in China, Canada, and Mexico. Because, of course, what’s a little homesick crisis without a side of border drama?

Trump’s ever-changing tariff timeline is making builders feel like they’re playing a never-ending game of dodgeball with costs. Cue the paranoia! As if it wasn’t hard enough to build a home, the announcement of a 25% tariff on goods from our neighboring countries is just the cherry on top of this construction catastrophe.

Let’s break it down. February kicked off with a bombardment of tariffs: 25% on Mexico and Canada, along with a 10% tariff on Chinese imports. Just to keep things interesting, a potential 25% tariff on lumber floated around like an uninvited party guest. Builders are now sweating bullets, unsure whether they should stock up on materials or wait and risk their projects going belly-up.

You thought Covid was the only villain ruining everything? Think again! As builders play an agonizing guessing game on what materials will be taxed next, their confidence has plummeted to its lowest point in five months. Meanwhile, you can practically hear the sound of stocks face-planting as investors panic over mounting global economic concerns. When will they learn that a strong economy doesn’t hinge on chaotic tariff policy?

Experts estimate that these tariffs might push the cost of building materials up by around 5%. What does this mean for the everyday Joe? Brace yourself for sticker shock! If you were hoping for a new place in this housing wasteland known as the Bay Area, be prepared for those inflated prices to make your wallet scream.

One builder highlighted that even with a 1.5% cost increase from tariffs, it’s the damned interest rates that truly mean developers would rather binge-watch Netflix than start new projects.

In summary, tariffs may be the icing on this frustrating housing crisis cake, but at the core is the sweet nectar of high interest rates holding Bay Area housing hostage. Until that changes, all we can do is sit, wait, and hope our rent doesn’t quadruple next month.