(Home) Building our Way out of Crisis

Home building might be the answer to more than just the housing shortage according to some information provided by Paul Emrath, economist for the National Association of Home Builders (NAHB). He maintains that it can also be a significant factor in rebuilding the economy once the COVID-19 crisis ends. Emrath has updated NAHB's 2014 estimates of the economic impact that residential construction has on the U.S. economy, especially via the number of jobs it creates. Nationally he estimates that building an average single-family home creates 2.90 full-time equivalent (FTE) jobs. Full-time equivalency is enough work to keep one person employed for a full year. This work generates $189,000 in wages and salaries and $110,957 in taxes. Although the majority of these jobs (FTE of 1.71) are in construction...(read more)

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