Eight years ago, the housing crash drove an estimated 30 percent of construction workers into new industries. Now, homebuilders are struggling to find workers to serve a newly resurgent housing market, Reuters reports.
The National Association of Homebuilders estimates there are some 200,000 unfilled construction jobs in the U.S., a jump of 81 percent in the last two years and the highest ratio of job openings to hiring since 2007.
Not only does such a shortage hurt the overall economy by keeping the supply for homes dragging behind demand, but it also means builders are directing their attention more toward expensive homes to maintain their margins. The end result is fewer starter homes available on the market, "shutting out many would-be buyers at a time when mortgage rates are near historic lows."
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