The Property Brothers, Jonathan and Drew Scott, are sounding the alarm over the potential impact of President Trump’s proposed tariffs, which they fear could send construction costs skyrocketing. With their roots in Canada, the brothers are acutely aware of how these tariffs could affect not just their homeland but also the broader North American construction landscape. The looming threat of tariffs on essential building materials like steel and lumber could have a ripple effect, making renovations and new builds significantly more expensive for homeowners and contractors alike.
Drew Scott articulated a sentiment shared by many in the industry when he stated, “Jonathan and I love the idea of domestic-made products.” However, he and his brother understand that a balance is necessary. “Blanket tariffs are not good for any economy,” Jonathan cautioned, emphasizing the potential for economic fallout. If these tariffs come to fruition, they could stifle the renovation market, which has been a major driver of growth in the construction sector. The brothers predict that extensive renovation projects and house flips may take a back seat if interest rates remain high, and a trade war could only exacerbate the situation.
Despite their concerns, the Scott brothers are not without options. They have built a formidable empire worth an estimated $2.8 billion, encompassing a wide range of home goods and media ventures. With a net worth of around $200 million, they have the financial flexibility to pivot their business strategies if the housing market takes a hit. “We’ve made money in every kind of market possible,” Drew pointed out, showcasing their resilience in navigating market fluctuations.
Their reach extends far beyond reality television. The Scott Brothers have established a diverse portfolio that includes endorsements for major brands like Chase Bank and Home Depot, as well as a production company that houses their various TV shows. They’ve even launched a mobile app, “Property Brothers Home Design,” which debuted in 2019, further cementing their presence in the home improvement space.
In a bid to innovate and support the next generation of home-related businesses, the brothers founded The Healthy Home Innovation Fund in 2024. This venture aims to raise between $50 million and $80 million to invest in startups focused on sustainable home improvements. “We said, ‘Well, why don’t we create a fund where we’re actually putting our money where our mouth is?’” Jonathan explained. This initiative aligns with their vision of leveraging their brand to lower costs for families while promoting sustainable practices.
While the specter of tariffs looms large, the Property Brothers are well-positioned to weather the storm. Their multifaceted approach to business and commitment to innovation suggests that they will continue to thrive, regardless of the challenges the construction industry may face. The potential for tariffs to reshape the market dynamics is undeniable, but the resilience and adaptability displayed by the Scotts could serve as a blueprint for others in the sector navigating these turbulent waters. As the construction landscape evolves, it will be fascinating to watch how these developments influence both consumer behavior and industry practices in the years to come.