Read that sentence again. We’re in a housing crisis like never before.
Home prices in Spokane rose 30% over the past year alone, but the driving forces behind housing affordability started years ago.
It’s past time to take action, and that work begins by getting a clear understanding of what’s driving the crisis. Here are the top five reasons we’re in such bad shape.
1. Population Growth
2. Not Enough Housing
3. Shortage of Skilled Workers
Home builders experience the shortage of skilled workers firsthand. In fact, Spokane’s new workforce development programs like Frame Your Future and Trade Up 2 Construction were created in response to home builders saying they’re having trouble finding skilled workers.
The demand for housing drives up the demand for skilled workers, and contractors are finding themselves in bidding wars for workers. This results in longer build times, which is another issue driving up the cost of housing.
The labor gap is expected to get worse as a large population of construction workers near retirement age. 23% of construction workers in the state are over the age of 55, and 750,000 will be of retirement age by 2030.
Unfortunately, budgets for Career and Technical Education (CTE) in high schools continue to be cut, and students lack access to career pathways for home-building trades. There’s a misconception that school districts are prioritizing trade programs, but budget allocations tell the real story. One of the latest cuts happened in the Mead School District, the 3rd-largest in Spokane County, where the CTE Director position was not included in the 2022-2023 budget.
Through industry-founded and funded workforce development programs, Spokane area schools are able to partner with industry leaders to create a future worker pipeline for residential construction. But this requires public-private partnerships and increased awareness.
4. Resistance to Change Zoning
5. Out-of-Market Buyers
Read next week’s article for more & What we can do to help ensure Spokane is an affordable place to live... & grow!
For more information visit SHBA or Building For the Future.
www.SHBA.com
(509) 532-4990
5813 E 4th Ave, Suite 201
Spokane Valley, WA
The Spokane Home Builders Association is a member-driven organization that works to elevate professionalism in the residential construction industry, provide innovative resources and information to our members and engage in informative, effective advocacy on construction issues to create affordable housing options for the community. We promote, protect and educate the housing industry and our community.
© Copyright 2024 | All rights reserved | Privacy Policy
"We do not share any client data with third parties. Your personal information is kept confidential and is not disclosed to any outside organizations except as required by law or with your explicit consent."
