Real Estate News 02/04/2025

Today’s News Synopsis:

In The News:

Bankrate – “How could deportations affect the housing market?“ (02-03-25)

“Trump has proposed many different tariff scenarios from his time as a candidate through until now, including a 10 percent universal tariff and varying tariffs on goods from specific countries. The scenarios are constantly changing, with new tariffs being imposed on Canada, Mexico and China — and then being altered almost immediately (as was the case with 25 percent tariffs on Canada and Mexico being postponed).“

Zillow – “Fed Starts 2025 With a Pause“ (01-29-2025)

“The Fed held interest rates as expected, at 4.25% to 4.5%, with the open question of how long this pause would continue. As economic data and the Fed respond to the new administration’s policy announcements, the mortgage market may experience continued volatility.”

CNBC –  “New tariffs could raise home prices and sideline potential buyers“(02-03-25)

“Home prices are already at record highs, and Trump’s mass deportation plans could further pressure the market by reducing the construction labor force.”

CNN –  “State Farm seeks an emergency insurance rate increase after LA wildfires. It’s the latest blow to California’s housing market” (02-03-25)

“State Farm General, California’s largest insurance provider, has requested an emergency interim rate hike averaging 22% for homeowners from state officials on Monday, citing a “dire” financial situation after destructive Los Angeles wildfires last month.”

Yahoo Finance –  “Trump tariffs to hit tech heavyweights, chip giants could be next” (02-04-2025)

“President Donald Trump’s 10% tariffs on goods made in China take effect Tuesday, putting electronics ranging from PCs to smartphones in the crosshairs. Trump has also signaled that he is considering tariffs on chips and products associated with chips, which could put further pressure on the tech industry.”