Hopes among San Francisco housing boosters that 2025 could deliver a sudden home-building boom are already fading after the year opened with a series of economic curveballs, driving fears that construction costs could soon rise.
The first shock came only days after the new year began, when fast-moving wildfires erupted in Los Angeles County and went on to consume thousands of homes. The disaster has set the stage for a massive rebuilding effort that some market watchers worry could, eventually, drive up labor and material costs throughout California.
Another shock arrived weeks later when President Donald Trump followed through on his promise to levy steep tariffs on steel and aluminum, both essential materials for construction projects… (more)