According to the Commerce Department, U.S. home construction slipped 0.3% in March.
Even though the unemployment rate keeps dropping and consumer confidence is edging up, homebuilders are pulling back from construction of single-family houses and apartments.
Because, despite decreasing mortgage rates, the slow growth of income puts potential homebuyers at a disadvantage as home prices continue to climb. That fact may contribute to stalling construction starts.
But the primary reason why the construction market is floundering is the lack of skilled construction workers; a problem with no answers.
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Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital Group’s Chief Financial Officer and was responsible for the oversight of HFZ's Finance and Accounting team. He has over 16 years of finance and accounting experience.