New Episode: The U.S. Housing Supply Crisis and Economic Mobility
Hi, I’m Pete Carroll, executive of public policy at CoreLogic. In Part 1 of this series, we talked about the subsidies needed to solve this Housing Supply Gap Crisis in the U.S. And today we’ll continue the conversation with a new topic: innovation.
Throughout the centuries, we have seen how innovation drives the way forward for a better life. From horses to cars, from telegraph to smartphone, we have managed to drive meaningful change to live a better life. This has made all facets of our society cheaper, easier, faster—for everyone. Housing is no exception.
There’s a lot of innovation occurring in the way we manufacture homes. Manufactured or modular housing is not a new concept, but it’s a great alternative and we’re now proving that it can be done at scale. This more factory-centric model can serve to drive down costs, and that makes it a lot more affordable for builders to consider creating more attainable and accessible housing.
In addition to using what we already know, there’s much to be done in the way to fundamentally rethink manufacturing—and the technology do this is here today.
Drones and Building Information Management models can render housing designs virtually in 3-D. Zoning data, contributed by cities and counties, can help optimize what type of housing can be built and where it can be built. And even technologies like robotics and 3-D printing can work to automate construction!
This kind of construction can be energy efficient, durable, and according to the McKinsey Global Institute can drive down construction costs by as much as 30%.
By capitalizing on the tools and technologies we have today, while also taking advantage of new ones, we can make the housing manufacturing process cheaper, faster, and even better.
In Part 3 of this trilogy, we’ll cover techniques for creating efficiencies in the development of traditional, so-called “stick-built” homes that are manufactured on-site —and how that can also help to solve the Housing Supply Gap Crisis in the U.S.
Thanks for tuning into this episode of “The U.S. Housing Supply Crisis and Economic Mobility.” For more information about the property ecosystem, visit corelogic.com/insights. Otherwise, make sure to like, leave a comment and subscribe, and we’ll see you in the next episode.
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