When the Housing Market Returns to "Normal," How Much Will Residential Construction Employment Rebound?
The housing bust induced a 41 percent drop in residential construction jobs between 2006 and 2011. Fannie Mae’s Economic and Strategic Research (ESR) Group predicts that homebuilding activity will return to “normal” by 2016, with housing starts roughly doubling over the next four years. The return to normal also implies an increase in residential construction employment, but how many jobs will be created by the homebuilding rebound? We explore this topic in our latest edition of Housing Insights.