{"id":7747,"date":"2016-05-02T08:29:56","date_gmt":"2016-05-02T15:29:56","guid":{"rendered":"https:\/\/therealdaily.com\/?p=7747"},"modified":"2016-05-02T08:29:56","modified_gmt":"2016-05-02T15:29:56","slug":"real-estate-talent-gap","status":"publish","type":"post","link":"https:\/\/theamericangenius.com\/housing\/big-data\/real-estate-talent-gap\/","title":{"rendered":"The million missing workers may stifle the real estate industry"},"content":{"rendered":"

Isn\u2019t there an old saying that goes something like \u201cMarry a plumber and you\u2019ll never have a leaky faucet<\/i>?\u201d If there\u2019s not, there should be and you should add, \u201cMarry a construction worker and your house will never fall apart<\/i>.\u201d<\/p>\n

Of course the way things are going you might want to add in brackets \u201cIf you can find one<\/i>!\u201d<\/p>\n

Labor: The last frontier<\/b><\/h2>\n

As far back as I can remember, there has never been anything wrong with trades. Say what you will but this country sits on the shoulders of blue collar workers. At some point, that mindset changed.<\/p>\n

Fortune<\/a> points out that in the 1990s, \u201cSchools began to phase out vocational classes and began to encourage all students to pursue a four-year college degree.\u201d<\/span><\/p>\n

Even if it was with the best of intentions, this move put skilled trades growth in a state of flux. One of the industries hardest hit was home construction.<\/p><\/blockquote>\n

Implosion by the numbers <\/b><\/h2>\n

According to an article on the US Census<\/span>, \u201cThe percentage of 19- to 25-year-olds hired in the construction sector declined from approximately 18% at its peak before 2006 to 13% in 2012-2013.\u201d<\/p>\n

That may not seem like that big of a deal. But the flipside is that those 19-to-25-year-olds were replaced with workers 45 to 55 years old.<\/p>\n

In an industry that could use a few young men (and women), 45-to-55-year-old demographic employed in the construction sector has exceeded the employment share of this age group for all other industries<\/i>.<\/p>\n

Some [but not much] improvement<\/b><\/h2>\n

This is an industry that could use some new blood. The National Association of Home Builders\u00a0explains that, \u201cAlthough the residential construction industry has gained more than 433,000 positions since the lowest low following the Great Recession, the industry remains more than 1 million workers short<\/i> of the workforce seen at peak 2006 levels.\u201d<\/p>\n

The lingering talent\u00a0gap<\/b><\/h2>\n

The sad reality is that homebuilding and home services businesses are stunted and the ripple effect of that comes in the form of completing construction projects on time, and home prices being raised due to labor shortages.<\/p>\n

I\u2019m not sure what the solution is. Some types of labor – building homes for example – can\u2019t exactly be outsourced. And with an entire older generation of workers set to retire the housing industry is in dire need of some replacements.<\/p>\n

Anybody got a hammer and some nails?<\/p>\n

#TalentGap<\/h3>\n","protected":false},"excerpt":{"rendered":"

Blue collar workers are needed more than ever in the housing market but despite an influx of new blood, the industry as a whole is still about one million laborers short of desired levels.<\/p>\n","protected":false},"author":337420,"featured_media":5337,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"wds_primary_category":0,"footnotes":"","jetpack_post_was_ever_published":false,"_links_to":"","_links_to_target":""},"categories":[91],"tags":[327,456],"class_list":["post-7747","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-big-data","tag-housing","tag-new-home-construction"],"jetpack_featured_media_url":"https:\/\/theamericangenius.com\/housing\/wp-content\/uploads\/sites\/2\/2015\/09\/new-home-construction.jpg","jetpack_sharing_enabled":true,"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/7747","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/users\/337420"}],"replies":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/comments?post=7747"}],"version-history":[{"count":3,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/7747\/revisions"}],"predecessor-version":[{"id":7762,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/7747\/revisions\/7762"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/media\/5337"}],"wp:attachment":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/media?parent=7747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/categories?post=7747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/tags?post=7747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}