Currently Reading

NAHB Finds Home Building Could Spark Economic Recovery

Advertisement
Economics

NAHB Finds Home Building Could Spark Economic Recovery


April 6, 2020
Sparks flying from man cutting metal pipe
By visivasnc

Want to restart an economy? Build homes. Constructing 1,000 average single-family homes creates 2,900 full-time jobs and generates $110.96 million in taxes and fees, according to NAHB’s National Impact of Home Building and Remodeling report. Those are crucial bucks to sustain police, firefighters, and schools among other social services for a community’s residents. And with a federally designated “essential infrastructure business” status, home builders can continue working through stay-at-home measures even when others must close. This means that despite a probable slowdown in projects, the sustained activity will help builders get ready to roll once the coronavirus pandemic subsides. 

A new study from NAHB shows that housing stands poised to lead the economic rebound once social distancing and other virus mitigation efforts show success in containing the coronavirus pandemic.

Building 1,000 average single-family homes creates 2,900 full-time jobs and generates $110.96 million in taxes and fees for all levels of government to support police, firefighters and schools, according to NAHB’s National Impact of Home Building and Remodeling report. Similarly, building 1,000 average rental apartments generates 1,250 jobs and $55.91 million in taxes and revenue for local, state and federal government. Moreover, $10 million in remodeling expenditures creates 75 jobs and nearly $3 million in taxes.

Read More

 

Related Stories

Market Data + Trends

More Buyers than Average are Purchasing Suburban Properties

The shift from urban centers to less dense areas continued on through October, according to the National Association of Realtors (NAR). For those…

Market Data + Trends

Case-Shiller: September Home Prices Break 6-Year High

Realtor.com warns that prospective homebuyers may not find a better deal in the future as home prices continue their climb. According to the S…

Market Data + Trends

Is Urban Flight to the Burbs Golden?

The future of urban and suburban housing post-COVID-19

Advertisement

More in Category




Advertisement

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.


Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Subscribe
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.