Building Affordability, Piece by Piece
BuildSMART is well aware of America’s well-documented affordable housing crisis which is often framed in terms of the big urban areas, where housing and living costs are sky high and rapid gentrification pushes rents and prices up and lower-income residents out. But the affordability crisis is also playing out across rural America. At BuildSMART we recognize the serious risk to our country this presents as well as the major opportunities the crisis presents for innovation. With these problem-solving opportunities popping up so are the companies offering their own solutions for pre-fabrication and modular design, this housing and affordability crisis can be abated.
Federal Reserve findings indicate a growing percentage of renters are either cost-burdened or extremely cost-burdened by rising rents and stagnating incomes. The Joint Center for Housing Studies (JCHS) of Harvard University published a 2017 study that found more than one-third of U.S. households were rental units. The research further suggests that overall household growth will be strong over the next decade as larger numbers of the extremely large millennial generation move out on their own — therefore pushing the number of households in our country, higher.
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