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Housing Market: Residential Construction is Limited by Worker Shortage

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Transcript: Kathy Fettke: The U.S. needs millions of homes to meet the current demand for housing, and is depending on builders who can’t find enough workers to do the job. According to one source, the industry needs to hire 1.5 million more construction workers from now through the year 2023. So where have all the workers gone? Hi I’m Kathy Fettke and this is Real Estate News for Investors. The construction industry is in hyper-drive right now to satisfy a critical demand for new housing and for upgrades to existing homes. More people are working from home making “home” a much more important part of our lives. It’s a perfect time for builders to expand their businesses but they are limited by the number of workers available. Where Are All the Construction Workers? Solar installer, Matthew Messer, is the owner of New York Solar Maintenance. And he says he’s out in the field working seven days a week because business is booming and he can’t get enough help. He told CNN: “The phone is ringing off the hook. I am