Indexes are tumbling as investors worry about the impact of President Trump’s import tariffs on U.S. companies and the economy. History offers us clues about what might happen next -- and over the long term.

After several years of consistent mortgage rate increases and soaring home prices, the prognosis for the 2025 housing market seemed promising at the start of the the year. However, recent economic and political instability has cratered consumer confidence and homebuyer optimism.