• CMG MORTGAGE, INC. NMLS #1820

Help Wanted: Home Builders

  • June 01, 2017

As the housing industry struggles with tightened inventory, one problem facing home builders is a shortage of skilled laborers.  Throughout the country, builders are struggling to fill open positions and this is causing rising labor costs, increased construction time, and higher home prices.

"We are now at the point that there is a serious shortage of workers," said Jerry Howard, CEO of the National Association of Home Builders (NAHB). "It's a real problem that ripples throughout the home-building process that ultimately costs the consumer."

According to a report by the NAHB, builders currently employ about 2.7 million workers.  This is a significant drop from April 2006, when the industry employed roughly 3.4 million workers.  Some foreign-born workers are returning to their home countries amidst new immigration policy, and other aging workers are retiring.  One home builder in Texas reports the average amount of time it takes to build a custom home has increased from eight to ten months. 

One step the industry is taking to grow the labor force is outreach through nonprofits like the Home Builders Institute.  The Home Builders Institute offers training and industry certification to attract younger workers.  The Home Builders Institute reports about 90% of its program graduates go on to find gainful employment. 

 

Sources: CNNMoney

Cindy MacDonell
Senior Loan Officer
NMLS # 316198
Branch NMLS # 1270689

Cindy MacDonell

PHONE: (707) 781-8185
cmacdonell@cmgfi.com

APPLY NOW
© 2016 CMG Financial, All Rights Reserved. CMG Financial is a registered trade name of CMG Mortgage, Inc., NMLS ID #1820 in most, but not all states. CMG Mortgage, Inc. is an equal opportunity lender, licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act No. 4150025; Loans made or arranged pursuant to a California Finance Lenders Law license No. 6053674. Offer of credit is subject to credit approval. For State specific licensing, visit www.cmgfi.com/licensing.php. To verify our state licenses, please visit www.nmlsconsumeraccess.com. This site is not intended to serve as a business solicitation for residents in the state of Massachusetts and New York.