"A problem hiding in plain sight is keeping Americans from buying homes
National Association of Home Builders CEO Jim Tobin says the gap has been as high as 400,000 jobs
Builders reveal a critical labor shortage in their field is fueling the housing affordability crisis in America.
America needs more homes, but the industry doesn't have nearly enough workers to build them. With too few skilled laborers to meet the growing demand, construction is taking longer, costs are rising and, as a result, the much-needed housing supply in the U.S. remains constrained.
Experts in the industry point to an aging workforce, a lack of younger Americans entering the skilled trades and immigration policies that they say have failed to keep pace with labor needs."
While I agree with this, I'll also add that white american males haven't been entering the trades for many decades, I'd say going back to the 90s, so that's certainly valid. A lot of skills and knowledge are indeed disappearing. But.....builders are seeking to minimize their costs in ways not understandable to any knowlegeable person. Houses continue their downhill slide by using as cheap of materials as possible. Plastic is king. Now houses are being sheathed, not in 1/2" osb, but......in cardboard. Literally. Be interesting to see a house being built with cardboard sheathing and vinyl siding. Don't sneeze too close to it or your head will crash through both and into the house.
So yeah, a labor supply shortage. Just as mentioned in the other thread on the RV market here. But also junk being built.
The key component of both--and 'higher education'--though is easy money, for others that is. All of them are overpriced but all of them can secure financing for their products.