Beyond the Buildings

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New Tariffs, Higher Costs — Who Really Pays the Price? Feb 19, 2025

Show notes

As the U.S. waits for the final decision on the fresh tariffs imposed on Canadian, Mexican, and Chinese imports, the housing industry is bracing for the impact of this policy decision. With material costs already a growing concern, these new trade policies could send ripples through supply chains, development timelines, and affordability.

Tariffs on steel, lumber, concrete and other key building materials have the potential to drive up construction costs, exacerbating an already tight housing market. Builders and developers may need to rethink sourcing strategies, while policymakers weigh the broader economic consequences of trade restrictions on inflation and consumer spending.

From rising home prices to shifting supply chains, host Maiclaire Bolton Smith sits down with industry experts Pete Carroll CoreLogic's, EVP of Public Policy and Industry Relations, and Jay Thies CoreLogic's Vice President of Pricing Analysis and Delivery to explore the immediate and long-term effects of these tariffs. Tune into this episode of Core Conversations to listen to the break down on what thse tariffs could mean for homebuilders, affordability, and the future of the housing market.

In This Episode:

2:10 – What are Trump’s tariffs and how will they affect the property industry — particularly construction?

5:50 – What are the preliminary estimates on how much tariffs could increase homebuilding costs?

9:12 – Will adding additional cost to homebuilding conflict with Trump’s executive order to provide affordability relief to the housing market?

13:58 – How will material and labor costs be affected?

16:32 – Erika Stanley does the numbers in the housing market in The Sip.

17:32 – Canadian lumber tariffs, they’re not new, but these tariffs will make them substantial.

19:22 – Could the U.S. domestically supply the necessary materials for home construction? Are there alternative materials that could be used?

22:30 – Will the tariffs have long-term consequences on U.S. home affordability?

24:54 – How will these tariffs affect rebuilding efforts following January’s Los Angeles wildfires?

28:30 – Will these tariffs affect the future of the U.S. property market?

Up Next: What Will a Second Trump Presidency Mean for U.S. Housing?

Links:

Are Investors and Interest Rates Abolishing the Dream of Homeownership? Mar 06, 2024

Show notes

Soaring U.S. rental prices have prompted discussions about the nation's trajectory towards a renter-centric society.

From the exorbitant rental prices in Miami to the ongoing wisdom that homeownership is an advantageous financial decision, as renters and homeowners search for affordability and stability, they will need to navigate an increasingly complex market.

With rental costs experiencing a staggering 30% increase over a three-year period, this episode of Core Conversations examines various factors contributing to this phenomenon, including a severe shortage of rental properties, heightened demand from new households, and the impact of high mortgage rates on homeownership rates.

As Americans search for solutions to growing rental prices, build-to-rent communities have stepped into this dynamic. These developments offer solutions to the rental supply crisis but also raise questions about the long-term impact of these communities on local economies and housing market dynamics.

In this episode, host Maiclaire Bolton Smith and CoreLogic Principal Economist Molly Boesel discuss the complex interplay between economic factors, housing policies, and societal trends shaping the rental landscape in the United States.

In This Episode

2:29 – Why are rents so expensive? Is the lack of affordability transforming the U.S. into a land of renters?
7:38 – How does the recent 30% increase in rental prices compare to the long-term average? How do rent-controlled apartments skew the growth?
9:10 – Looking at regional rent affordability and what happened in Miami.
10:15 – How is the rental economy distributed between single-family and multifamily units? Is the build-to-rent economy further tipping the balance?
16:46 – Who is investing in these build-to-rent communities? Is it venture capitalism? Banks? Individual investors? And how are these communities impacting local economies?
17:39 – Erika Stanley goes over the numbers in the housing market.
18:39 – How are high rental prices correlated with the slowdown in homeownership rates?
19:48 – Why are first-time homebuyers still making up a large share of buyers despite high interest rates?
21:42 – Erika Stanley reviews global natural catastrophes and their effect on the insurance market.
23:00 – Are there advantages to being a renter versus a homeowner even in the current rental market?

Links:

Up Next: Why US Property Retains Its Value Compared to Other Global Markets

Are Rate Locks the Negotiation Key for Lenders to Secure Loans in this Economy? Jul 05, 2023

Show notes

Anyone who is buying a home with a mortgage almost certainly talks to their lender about interest rates. With real estate market trends defined by some of the highest interest rates in decades and annual home price growth reaching its lowest level in more than a decade, purchasing a property is an undertaking that requires buyers to look at the data and do the math.

The current environment is also opening up rate locks to become a negotiation tactic — a technique that falls in and out of favor with real estate trends.

In this episode, host Maiclaire Bolton Smith sits down with CoreLogic Principal Economist Molly Boesel to discuss what rate locks are, why they are trending in the housing market and what that may mean for lenders looking to retain or gain new business.

In This Episode:

3:19 – What are rate locks and why are they trending?
6:24 – Mortgage rate locks come at a price. Does that make them a valuable negotiation tactic?
10:11 – Erika Stanley goes over the numbers in the housing market.
11:31 – Maiclaire talks about using rate locks as a negotiation tactic when buying her home.
13:09 – Are mortgage rate buydowns also becoming more common in this market?
16:30 – Are mortgage rate buydowns and rate locks the only tactics available to reduce monthly mortgage payments?

Links: CoreLogic’s monthly Home Price Index (HPI)

Up Next: Has the Economy Locked in US Housing Market Price Stagnation?

Find full episodes with all our guests in our podcast archive here: https://clgx.co/3zqhBZt

Has the Economy Locked in US Housing Market Price Stagnation? | Part 2 | Two May 10, 2023

Show notes

As annual home price growth reached its lowest level in more than a decade, all eyes are on the housing market as a bellwether for the larger economy.

In Part 2 of this episode, host Maiclaire Bolton Smith sits down with CoreLogic Principal Economist Molly Boesel to discuss what is really happening in the housing market and what low inventories, high interest rates and lack of upcoming supply mean for real estate.

Up Next: Listen to Molly Boesel talk about myths in the housing market on Core Conversations.

In This Episode:

0:37 - How closely are people tracking interest rates? Is it worth doing so?
2:26 – Is this a brave new world full of high interest rates for first-time homebuyers?
6:27 – Why is inventory in the housing market still so low?
9:00 – Construction and labor costs are transforming starter homes into luxury purchases.
12:08 – The Natural Disaster Digest: Learn about global natural catastrophes’ effect on real estate
13:10 – What does the future hold for the property and housing market?

Find full episodes with all our guests in our podcast archive here: https://clgx.co/3zqhBZt

Has the Economy Locked in US Housing Market Price Stagnation? May 03, 2023

Show notes

The real estate market is one of the largest asset classes in the world. So, when economics shift in the sector, the larger economy feels the ripple effects. Recently, interest rates have been the highest in decades, home prices have seen the lowest recorded rise since 2019 and nearly 60% of homes sold below list price in March 2023. However, zooming out and looking at the bigger picture reveals that some of these trends shouldn’t be as surprising as they seem, and, maybe, they were even predictable.

In this episode, host Maiclaire Bolton Smith sits down with CoreLogic Principal Economist Molly Boesel to discuss what is really happening in the housing market and what that means for first-time homebuyers, repeat homebuyers, investors and banks.

Up Next: Listen to Molly Boesel talk about myths in the housing market on Core Conversations.

In This Episode:

2:04 – Has the market slowdown been as bad as economists predicted?
5:35 – Interest rates, inflation and home prices: how intertwined is that relationship?
7:22 – Get the numbers in the housing market. Erika Stanley hosts The Sip.
9:25 – 30-year, fixed-rate mortgages vs adjustable rate mortgages. What is your best bet?
13:37 – How closely are people tracking interest rates? Is it worth doing so?

Total Home Value Extends Beyond the Numbers Oct 05, 2022

Show notes

A look at the news lately can make people jittery. The Federal Reserve is ratcheting up interest rates, inflation is rampant and, as a result, mortgage payments have skyrocketed. However, these realities do not necessarily spell doom and gloom for the U.S. housing market. In fact, these trends may just indicate a light at the end of the tunnel.

In this episode, host Maiclaire Bolton Smith sits down with CoreLogic Principal Economist Molly Boesel to talk about today’s economic trends in the housing market and how tracking them has revealed that perhaps things are not as dire as they might seem.

Keep pace with the changing economy by following CoreLogic analysis at corelogic.com/intelligence.

To Be or Not to Be (A Scientist): We Must Ask Girls That Question Aug 24, 2022

Show notes

By the time they reach middle school, many girls are already convinced that they will not pursue a career in the sciences — at least in the stereotypical sense of the profession. So how can these girls see the potential that a science career holds beyond lab coats and experiments? They meet female scientists in-person whose degrees have led to work in a wide array of positions from communications to project management.

In this episode, host Maiclaire Bolton Smith sits down with Project Scientist Founder Sandy Marshall and CoreLogic's Project Scientist Liaison Trish Murray to discuss the link between this non-profit, STEM careers for women and CoreLogic’s integral support for this initiative.

Interested in supporting Project Scientist? Visit projectscientist.org or corelogic.com to learn more about CoreLogic's investment in STEM.

It’s a Bird. It’s a Plane. No, it’s Ballooning Interest Rates Flying High. May 25, 2022

Show notes

As a topic of conversation, interest rates have come to the forefront of the nation’s consciousness in recent weeks as the Fed has incrementally raised the rates of federal funds, widely affecting prices. However, not all industries are equally impacted. Real estate is one sector where many people are watching closely to see whether the ballooning interest rates will cool off the red-hot real estate market with the force of a summer breeze or if they will usher in a polar vortex and change the investment appeal of property in the United States.

In this episode, host Maiclaire Bolton Smith sits down with CoreLogic’s Chief Economist Frank Nothaft to discuss the effects of the current rise in interest rates on the property market.

What's My House Worth? Oct 06, 2021

Show notes

Browsing for a new home is a hobbyist activity, even for people not looking to immediately purchase. The home buying experience tends to now start online, and shoppers are seeing estimates from an automated valuation models or AVMs.

In this episode, host Maiclaire Bolton Smith sits down with Ann Regan, Executive Product Manager from Collateral Solutions to learn what exactly is an AVM? How does it work? What is it used for?

How is Automation Affecting the Appraisal Industry? Jan 06, 2021

Show notes

Change is upon us all, and the appraisal industry is no different. New technologies like homeowner-assisted valuations, drones and more have shifted the way appraisals have traditionally been conducted. In this episode, host Maiclaire Bolton Smith and CoreLogic Chief Appraiser Shawn Telford discuss how automation has affected the industry and what the future holds for the profession.

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