"Builders have been killing themselves": Shark Tank investor Barbara Corcoran admits home prices skyrocket under Trump’s tariff policy

In an April 10 interview with TMZ, Shark Tank investor and entrepreneur Barbara Corcoran was asked about the effects of former President Donald Trump's tariff policy on the housing market. Corcoran responded that the tariffs would impact the cost of materials and housing prices. She explained:

"Builders have been killing themselves to produce that low rates, and now the rates are going to go up."

The Shark Tank investor emphasized that affordable new homes would be significantly affected. She explained the implications of tariffs, the rebuilding efforts after the California wildfires, and the broader housing challenges she addressed in separate interviews.

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Shark Tank's Barbara Corcoran links rising home prices to Trump’s tariff policy

Impact of tariffs on the housing market

In the interview, Barbara Corcoran discussed how the Trump tariffs have disrupted the housing market, particularly for new homes aimed at low-income buyers.

"The worst use of the Trump tariffs is that all new homes, which are built for the less advantaged, are going to come to a standstill," Corcoran remarked.

She elaborated that this disruption is primarily due to the escalating costs of construction materials like steel and lumber, making it more challenging for builders to maintain affordable home prices. As a result, Corcoran suggested, fewer homes will be available to those who need them the most.

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Housing recovery and rebuilding after California wildfires

As the conversation shifted to the aftermath of the devastating California wildfires, Corcoran shared her observations on the recovery process in Los Angeles. When asked about the progress of rebuilding efforts, Corcoran highlighted a strong sense of optimism in the community.

"There's a lot of people still waiting to rebuild and they are amazing in that what we have in LA is a resurgence of optimism," she explained.

The Shark Tank investor also pointed out the role of various stakeholders in the recovery process.

"Everybody has joined hands as each other. The government, the workers, volunteers, they're all helping to rebuild it," she said.

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The pace of recovery in LA and other challenges

When asked how long it might take to rebuild the homes destroyed by the fires, the Shark Tank investor expressed optimism about the recovery speed.

"To build probably a year and a half, two years, three years. That's faster than I expected," she said.

She attributed this accelerated timeline to the cooperation of the local government, which has expedited permit processes to keep the rebuilding efforts moving forward.

"The government's totally cooperating. They fast-forwarded everything in permits and being issued," Corcoran noted.

She emphasized that what stands out is the people's enduring spirit, stating that their commitment to each other and Los Angeles will persist in the "long run." This collective dedication, she believes, will ensure the city stays united throughout the recovery process.

Corcoran also addressed concerns regarding insurance companies and their role in rebuilding. She acknowledged that there have been issues with insurance coverage in LA over the past few years, but noted that the situation is improving.

"The key problems in the insurance in LA for the last three years," she remarked.

However, Corcoran pointed out that the federal government had intervened to help resolve these issues. She explained that insurance companies were able to secure approval from the federal government for a "25% increase," which will help ensure that homeowners have access to the necessary coverage for rebuilding.

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