Ottawa – Canada’s Housing Minister has warned that an escalating trade dispute between Canada and the U.S. could drive up the cost of building homes, potentially worsening the housing affordability crisis.
The minister’s concerns come amid rising trade tensions that could lead to higher tariffs on essential construction materials such as lumber, steel, and aluminum. Developers have echoed these fears, stating that increased costs would inevitably be passed on to consumers, making new homes even more expensive.
“This trade war will have a direct impact on homebuyers,” said a leading developer, emphasizing that supply chain disruptions and rising material costs could slow down construction projects and drive prices even higher.
With housing affordability already a pressing issue in Canada, experts are urging both governments to resolve trade disputes swiftly to prevent further strain on the housing market.
More updates to follow as negotiations continue.