Subject: The pain Trumuskp promised hits housing
Financial Times link: http://archive.today/2025.03.0...

High interest rates and uncertainty surrounding President Donald Trump’s plans for tariffs and mass deportations are biting into demand for US home improvements, the latest signs of a tepid housing market.

Shares of Jeld-Wen Holdings, which sells residential doors and windows, tumbled 6 per cent on Friday to a record low of $5.50. In an earnings report last month, the company forecast revenues would drop 4 to 9 per cent for 2025 compared with last year.

The shares sank despite chair David Nord buying $119,000 of the company’s stock this week, a move often seen by investors as a sign of confidence.

Shares in AO Smith and BlueLinx, which sell water heaters and plywood respectively, have also dropped to the lowest levels since late 2023. Earlier this year, AO Smith forecast flat to modest sales growth for 2025, while BlueLinx warned about continuing uncertainty over the timing of a sustained housing recovery.