The US economy has been enjoying a historic run. Since June 2009, the upturn is set to be the longest in US history if it can last until June. The one area that is lagging is new home sales. The season? A lack of entry-level homes that are priced within reach of the 19.4 million who have entered the workforce since 2009.
The construction industry is one of the most labor-intensive in the US which is why a tightening of immigration regulations poses a problem. One report found a 67% decline in Mexican immigrants which led to there being 570,000 fewer Mexican-born construction workers than there were in 2007. Workers in the construction industry have returned to… Read more »
The building industry is not keeping up with demand. Labor shortages mean not enough new homes are being built and that results in higher prices. The number of workers who are 24 and under has declined by 30% in 48 states, according to the analysis of U.S. Census data by Issi Romem, chief economist at… Read more »
Labor shortages and increased demand through urbanization has led to a global housing shortage. The construction industry hasn’t changed much in the last 50 years but to meet this growing challenge, it must evolve to build houses in a way that’s faster, cheaper and more environmentally friendly. To meet this challenge, Metsä Wood’s Mikko Saavalainen,… Read more »
The age of concrete is over. Increasing urbanization means that over 70% of the world’s population will live in cities by 2050 and, with the US building industry accounting for 39% of greenhouse gas emissions, construction needs to find ways to be more sustainable. Now wood construction is offering a renewable alternative that is revolutionizing… Read more »
When it comes to offsite construction, there are a lot of skeptics. They say, “We have seen this movie before”. People point to the fact that over the past 100 years, several companies have bet on prefab building and lost. Things have changed now. Since shop class disappeared from our school curriculum, a skilled labor… Read more »
Construction hasn’t changed much in the last few decades. In fact, labor productivity actually declined by 19% between 1995 and 2015 . While innovation has improved equipment and technology, the process of building hasn’t undergone a major change for some time. Severe shortages of skilled onsite labor, rising labor costs and a lack of affordable housing are… Read more »