The Ontario Home Builders’ Association (OHBA) is warning that new U.S. tariffs on Canadian steel and aluminum could significantly impact housing affordability across the province.
The 25% tariffs, announced by the Trump administration, will increase costs for critical construction materials, which OHBA says will lead to higher home prices, slower housing development, and reduced affordability for Ontarians.
“We’re at a turning point, not only for the Canadian economy but specifically for the housing sector in Ontario,” said OHBA CEO Scott Andison. “The potential impact of an economic slowdown, job loss, and decreased investment in residential real estate could be a brutal blow to the housing sector and therefore to housing affordability for Ontarians.”
A weaker Canadian dollar, expected as a result of the tariffs, would further increase construction costs. Andison also cautioned that retaliatory tariffs, while politically necessary, could worsen the situation, particularly if they include key building materials.
OHBA is urging the provincial government to take immediate action to limit the impact on Ontario’s housing market. The association says it will work with policymakers to address the risks and prevent a slowdown in residential construction.
(Written by: Joseph Goden)
