Steel Tariff Increase New Development Cost

Would higher construction costs have a positive or negative effect on property values? Would the effect be different long term vs. short-term?

Higher construction cost increase the replacement value. So positive for existing real estate. However, not sure where steel is that significant portion of the cost. Labor costs and finishes are far larger percentage.

Lots of new resi construction still concrete except for the high-rise towers?

Agree higher costs is good for existing resi in the short term. I wonder about long term demand.

Long term it may discourage Developers from starting new projects because it will squeeze their profit margin.