Out of the many homebuilders our team works with, the vast majority call worker shortage their top problem when it comes to delivering projects on budget and on time. As we see the market recover, the greatest problem we face is the trade shortage. Simply put, those who worked in the market prior to the downturn have not come back. Furthermore, millennials are not stepping in to take jobs in trade industries, such as construction, which is adding to the shortage.
The experts at MarketWatch put together a very informative article that highlights this problem and provides a national focus on the issue along with ways we can fix the labor shortage going forward. In the end, nobody really knows what we are going to do as we have over 150 million young kids entering the housing market with a shortage of housing for them sure to follow. Builders may be able to fill the void, but not if we don’t have the trade base to execute the work.
We are grateful to MarketWatch for including Avid Ratings in the story. Read the full article here.