DFW residential real estate » Market news » Market fundamentals
DFW Housing Market News and Trends
| NEW HOME BUYERS HEADS UP: Texas Home Builders Feel Effects Of Immigrant Crackdown. |
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President Trump's tough stance on immigration may be having an unintended consequence -- higher housing costs. That's because builders say it's getting harder and harder for them to find workers, especially in places that rely on immigrant labor. The [high demand for houses] problem is compounded in hot real estate markets where more and more housing projects are finding fewer and fewer workers. In places like North Texas, recently, it's been a triple whammy. Ted Wilson with Residential Strategies, Inc. has run the numbers. "We've seen direct construction costs climb by over 30 percent," Wilson said, "and a lot of that is directly attributed to what builders are having to pay their subs and trades in wages." Wilson [also] said companies have had to get by with fewer workers, so in addition to paying more for a house, you'll likely have to wait longer for it to get built. "Instead of 12 guys coming out to frame your house, you get four guys," he said. That sort of shortage can add a month or two to the time it takes to build a home. |
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Posted on Friday, August 11th, 2017 at 1:45 pm by H. David Ballinger |
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