Housing supply

More skilled workers needed to increase housing supply and facilitate affordability

“Boosting housing supply requires training and placing thousands more skilled workers in well-paying jobs,” Brady said. “This is urgently needed as many of those working in the trades have aged or have left the sector permanently for other opportunities. As a nation, we need to train the next generation of skilled tradespeople.

“It means recruiting more women. It means training and placing minority, low-income and opportunity youth for well-paying jobs as an important way to address social inequality,” the CEO added. “That means providing job skills training to veterans and transitioning military members. And that means reaching out to high school students, and those who influence their decisions, to change their perception of careers in the trades. »

Brady said the problem can be alleviated by expanding vocational skills education in high schools and community colleges, as well as industry-sponsored community facilities and programs. “The valuable skills learned in the training programs help graduates receive the dignity, respect, pay and benefits they deserve. In turn, training increases productivity, which enables employers to meet the compensation demands imposed by today’s competitive job market, he said.

Read next: Affordability remains a challenge amid market downturn

The National Association of Home Builders now predicts an economic slowdown for 2023. But the long-term housing deficit is expected to persist through any cyclical, interest rate-driven downturn, according to NAHB’s chief economist, Robert Dietz: “This research shows us that this housing and skilled labor shortage crisis is not going away,” he said.