An estimate by economists at the National Association of Home Builders shows that the one-year local impacts of building 100 single-family homes in a typical metro area include $21.1 million in local income, $2.2 million in taxes and other local government revenue, and 324 local jobs.
“Home building is a key driver of the American economy,” said NAHB Chairman Bob Nielsen, a home builder from Reno, Nev. “By generating economic activity including new income and jobs, purchases of goods and services, and revenue for local governments, housing—which has historically accounted for around 17 percent of the GDP—can put America back to work.”
The employment effects extend beyond the home building industry. About half of the jobs are in construction, with the other 50 percent creating employment opportunities in industries ranging from production and sales of home furnishings to service providers such as real estate attorneys and landscapers.
Reprinted from C.A.R. Newlines.
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