The housing shortage in some parts of the country has gotten so acute that a new approach such as modular construction may be the only way to alleviate the problem.
The recession of the late 2000s caused many builders to close shop and the industry still hasn’t fully recovered. Today new apartment and housing construction sits at a little over half the pace of the 2006 peak.
The number of residential construction workers is down 23% from 2006. Skilled trades like plumbers, carpenters, and electricians are down close to 17%. As a result, labor costs have risen about 5% a year for the past three years.
Prefabrication, which is a more efficient way to build, may be the best hope to quickly build affordable housing, some industry insiders believe. Newer companies constructing housing using prefab techniques are focusing on condominiums and apartments today.
Related Stories
Codes and Standards | Jan 31, 2020
Colorado ranks first in LEED Top 10 states
Rankings of states for LEED certified square feet per person released.
Codes and Standards | Jan 30, 2020
Dramatic demographic shifts poised to alter global workplace
By 2030, Millennials and Generation Z will dominate workforce.
Codes and Standards | Jan 29, 2020
Half of Manhattan’s new residential skyscrapers are empty
Excess comes as middle class housing shortage worsens.
Codes and Standards | Jan 28, 2020
Updated Engineered Wood Construction Guide now available
Provides guidance on building engineered wood floors, walls, and roofs.
Codes and Standards | Jan 24, 2020
Fenestration Rating Council earns ANSI certification
FenStar Certification Program ensures windows, doors, and skylights meet Energy Star specifications.
Codes and Standards | Jan 23, 2020
Rent control policies backfire on goal of boosting affordable housing
Natl. Apartment Assn. study says rent control decreases housing supply, harms condition of housing stock.
Codes and Standards | Jan 22, 2020
Potential energy savings from smart meters is largely unrealized
Most utilities underuse the technology that can help customers save money.
Codes and Standards | Jan 21, 2020
Contractors pay practices reviewed in new database
Fastest and slowest paying GCs revealed.
Codes and Standards | Jan 17, 2020
Several states with ambitious climate goals will have to restrict natural gas as a fuel
Buildings would have to heat and cook with electricity.
Codes and Standards | Jan 16, 2020
New solar-ready mandate affects commercial and residential buildings in St. Louis
All new buildings must have reserved rooftop sections for PVs.
