My sympathies to the newspaper industry for the recently imposed tariff on Canadian newsprint adding to costs.
The home building industry had 20 percent tariffs imposed on lumber from Canada over one year ago by the U.S. Department of Commerce. This tariff enabled U.S. lumber producers to increase prices and have contributed to a 30 percent increase in lumber prices over the last year. A study by the National Association of Home Builders shows that this increase in the cost of lumber since the beginning of 2017 has increased the price of an average new single family home by $6,388. Since a $1,000 increase in the price of a new home results in 152,903 households being priced out of the market for a median-priced new home, these tariffs have resulted in nearly 1 million households priced out of the market for a new home.
Meanwhile 1,193 jobs have been added to U.S. sawmills, and those companies’ profits have increased! However, other industries, such as housing, have lost 10,563 jobs due to these higher lumber costs.
Thankfully, despite these increased costs, home-building activity in the Janesville area has continued to improve.
Good luck in battling these tariffs. The National Association of Home Builders have been battling our lumber tariffs for over one year with no success.
Amwood Homes, Inc./Advantage Homes, Inc.