Real Estate News

Tariffs could add thousands of Dollars to condo prices


THE CANADIAN PRESS/Cole Burston

Condos are the gateway to homeownership for many Canadian families and the key to unlocking much-needed retirement funds for downsizing boomers. And in the country’s priciest real estate markets, they are often the only option for homebuyers of any age.

But trade tariffs may soon nudge even condo prices out of reach for many.

The tariffs imposed by U.S. President Donald Trump and the countermeasures they have triggered around the world are pushing up material costs for the Canadian construction industry, said Sal Guatieri, senior economist at BMO Capital Markets.

“It’s mainly steel and to a lesser extent aluminium and softwood lumber,” he told Global News in a phone interview.

Continue to read on: Global News

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