flexiblefullpage - default
Currently Reading

NAHB Finds Home Building Could Spark Economic Recovery

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

Single-Family Homes Appreciating Faster Than Ever, Especially in These Popular Metros

Single-family home prices have risen steadily since 1990, but not all of the nation's 50 most populated metro areas have seen equal growth

Market Data + Trends

Nation’s Top Home Builders Report Increase in Cancellations in Q2 2022

Fast-rising interest rates caused an uptick in broken contracts and new-home cancellations throughout the first half of 2022

New-Home Sales

Falling Mortgage Rates Motivate Some Buyers to Forge Ahead With Home Searches

Buyers formerly priced-out by elevated interest rates are continuing their home searches as borrowing costs drop to a four-month low

Advertisement
boombox1 -
Advertisement
native1 - default

More in Category




Advertisement
native2 - default
Advertisement
halfpage1 -

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.