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tariffs

Why are New Jersey housing costs continuing to rise — and who should pay for affordable housing?

Hughes said if federal immigrant deportations continue, home construction costs could soon rise even higher in the Garden State.

“The builders are heavily dependent on immigrant labor, particularly roofing, so they’re facing significant labor shortages,” he said.

He said tariffs could also cause housing price increases, depending on how they ultimately wind up.

“We import a lot of lumber, we import a lot of drywall, a lot of washing machines, appliances and the like,” Hughes said.

Tariff Uncertainty and its Impact on Economic Forecasting

R/ECON’s next economic forecast is slated for release in mid-summer, followed by another forecast in the fall. As we track the latest state data and national outlook, we have been closely following the news on tariffs, the Fed’s potential actions, and associated fluctuations in the financial markets.

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