Tariffs on lumber, steel directly impacting Connecticut housing costs
Builders have estimated that the new tariffs have added over $10,900 to the cost of a new home.
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Lawmakers say international tariffs are taking a toll on Connecticut housing.
They say President Donald Trump's tariffs on metals and wood products is directly affecting home construction.
Last year, Connecticut builders were approved for the second lowest number of permits for new houses dating back to 1960, according to the U.S. Census Bureau.
Builders have estimated that the new tariffs on lumber and steel have added over $10,900 to the cost of a new home.
"This is not just a problem for the construction companies. It means that fewer options are available for people looking to rent or to buy,” said U.S. Rep. Rosa DeLauro (D-New Haven.) “No one wants to pay for a home that really is missing a garage-door, a sink or a cabinet. All of this is making it harder for Connecticut to build the housing that we need."
Rep. DeLauro is now introducing a bill to stop tariff-driven price gouging from large corporations – the No Gratuitous Overcharging for Ubiquitous Global Exports (NO GOUGE) Act.
