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Construction worker shortage has reached “crisis” levels

Housing Wire

To keep pace with current construction demand, and account for attrition, 740,000 new construction workers are needed each year for the next three years , a report by the Home Builders Institute contends. million new hires for construction. The construction worker shortage has reached crisis level.

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D.C., Chicago are top YIMBY cities for housing development

Housing Wire

metro areas that are embracing new development and “creating a more diverse and plentiful supply of homes.“ Pacaso said that these shortages have been exacerbated by various types of “municipal zoning and building ordinances [that] have historically restricted new housing construction.“ Washington, D.C.,

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The VA’s little-known program for Native American veterans

Housing Wire

from 2012 to 2021. The GAO’s report said that from 2012 to 2021, 91 loans were originated in Hawaii using the program. In the entire country, 180 loan originations resulted from the program from 2012 to 2021. The Department of Housing and Urban Development and the United States Department of Agriculture have similar programs.

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Mortgage Credit Availability Rises, But Challenges Remain

Appraisal Buzz

In March 2012, the index was benchmarked at 100. The recent growth in credit availability is encouraging, but the index is still hovering near 2012 lows. Base period and values for total index is March 31, 2012=100; Conventional March 31, 2012=73.5; Government March 31, 2012=183.5.

Mortgage 397
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Homebuilders are primed for an even better 2024

Housing Wire

And with the ability to buy down consumers’ mortgage rates while still maintaining double-digit margins, new construction grew to comprise roughly 30% of total housing inventory in 2023, more than double a normal year. Let’s look at the new construction forecast for 2024. million new single-family construction units in 2024.

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Mortgage Credit Availability on the Rise 

Appraisal Buzz

In March 2012, the index was benchmarked at 100. The Conforming and Jumbo indices have the same “base levels” as the Total MCAI (March 2012=100), while the Conventional and Government indices have adjusted “base levels” in March 2012. In July, the MCAI increased by 3.3% among the Conventional MCAI component indexes.

Mortgage 396
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Housing starts slide, but there are reasons for optimism

Housing Wire

Department of Housing and Urban Development. The new construction industry was not blind to the impacts this will have on housing demand. Builders are starting on construction on fewer single-family houses, but they’ve been breaking ground on more apartments and condominiums. Census Bureau and the U.S. in the West.