Closing labor gap is only fix for housing

AMERICA'S HOUSING crisis is no longer a looming threat: It's here.

- ANGELO FAROOQ GUEST CONTRIBUTOR

HOMES BEING BUILT in Fontana in September. The industry must add 723,000 workers a year through 2028 to meet demand.

(MARIO TAMA Getty Images)

Across the country, home prices and rents have climbed beyond reach for millions of families.While many factors play a role, from zoning laws to inflation, one root cause is often ignored: We simply don't have enough construction workers to build the homes America needs.

The construction industry must add roughly 723,000 workers every year through 2028 just to meet demand. Years of underinvestment in trade education have contributed to a structural shortage that's now costing the economy an estimated $10.8 billion annually in delayed projects and unbuilt homes. That's not a future risk; it's a current cost for every American household in the form of higher rents and home prices.

I've seen this crisis from both sides of the table. As a former chair of a state workforce board and now a partner in real estate development, I witness the same disconnect everywhere: young people searching for opportunity, and an industry desperate for labor. Job sites across the country can't find electricians, plumbers, framers or HVAC technicians. Projects are delayed, scaled back or canceled. This isn't just a workforce challenge; it's a housing and economic growth emergency.