Tariffs Have Eliminated Nearly 60,000 U.S. Construction Jobs and Are Making the Housing Shortage Worse

A new report from the U.S. Congress Joint Economic Committee estimates that there are nearly 60,000 fewer home construction jobs compared to December 2024 — the month before the current administration took office — with rising costs due to tariffs cited as a primary factor, and prices of key materials like copper and steel having climbed more than 20% compared to a year earlier. NAHB Chief Economist Robert Dietz says uncertainty has been the larger effect of tariffs on the construction industry, showing up in building permits and housing starts that were down significantly at the end of 2025 compared to a year before. In Oregon, the impact is especially acute — Governor Kotek set a goal of building 36,000 homes per year when she took office in 2023, but the state issued fewer than 15,000 residential permits last year, and tariffs on imported materials like Canadian oriented strand board are forcing builders to switch materials and raise prices at exactly the wrong time. For NW contractors, the convergence of tariff-driven cost increases, high interest rates, and weakening buyer confidence is creating one of the most challenging residential bidding environments in recent memory. Washington State Department of Transportation + 2

Source URL: https://www.realestatenews.com/2026/04/08/tariffs-on-track-to-exacerbate-us-housing-shortage