As executives at Houston-based Camden Property Trust underwrite their apartment developments with tariffs on the horizon, they’re only figuring in a 2% to 3% increase in construction costs.
With the ever-changing threat of tariffs from President Donald Trump, that number may appear suspiciously low. But it’s not a mistake, according to Camden CEO Ric Campo.
“The reason it’s not more is that we’ve been to this movie before,” Campo said on the REIT’s first-quarter earnings call last month. “Under the [Trump] administration 1.0, there were tariffs and there were issues, and COVID created a lot of interesting supply chain issues, as we all know.”
