It took less than 24 hours for China to respond to the latest salvo of tariffs fired off by U.S. President Donald Trump as Beijing announced it will impose $60 billion worth of tariffs on U.S. goods, which took effect today. The new round of tariffs from China are said to affect a list of 5,207 products within a range of 5 to 10%.

Both the U.S. and China have already slapped each other with tariffs worth $50 billion total. There was news that both sides were engaging in low-level negotiations to ameliorate their trade disputes, but talks have reportedly stalled.

Related: Dow Stumbles as U.S.-China Trade Talks Stall

Even if a homebuilder does decide to take on a project, the increased costs eventually get passed on to the consumer, translating in higher real estate prices that will further affect the real estate market. Despite the extended bull market in U.S. equities, real estate has still been lagging the rest of the capital markets.

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