The following excerpt is from an Newsday article by Stephen J. Bronner that was published March 19, 2025. You can read the entire piece here.
…Whether the price of construction goods does increase, the tariffs have already affected the overall economy — the stock market took a dive upon their implementation — adding further uncertainty for Long Island homeowners in an already uncertain economic period and potentially dampening their ability to access credit.
“The economic hardships from the pandemic, we were just starting to emerge from them, and now we’re dealing with a self-inflicted woe,” said Richard Murdocco, adjunct professor at Stony Brook University’s public policy graduate program who also studies economic development. “[The tariffs] will throttle growth and investment because [they add] economic friction. These tariffs are amplifying pre-existing weaknesses in our regional economy.”
…Murdocco echoed these remarks, asking, “Are they going to buy eggs for their family, or spend money on a nice marble sink?” He expressed concern about how these tariffs may stymie development on Long Island amid a housing shortage.
“Our region is at an interesting point in its economic history. It’s looking to transition from a 20th century suburb to a 21st century [one],” he said. “We need stability, certainty and to realistically contain costs, so the private sector can invest in us. If this cycle of yes tariffs, no tariffs continues, it’s going to be a challenging landscape to invest in our region.”
