Are REOs ready for a comeback?

Are REOs ready for a comeback?

Clear Capital: Increases in distressed, seasonal changes suggest yes

Mortgage application defects keep rising

Michigan, Florida, Texas lead First American application defect index

Monday Morning Cup of Coffee: When will mortgage lending pick up?

Plus, more on the future of Fannie and Freddie
The Ticker

Home construction adds 500,000 jobs a year

For every new house constructed, between four and five jobs created

construction of new home
/ Print / Reprints /
| Share More
/ Text Size+

The housing recovery goes deeper than just an improvement in home prices, with single-family home construction contributing approximately 500,000 jobs to the economy year-over-year, Regional Economic Models Inc. said in a press release.

Additionally, the net gain in jobs accounts for a quarter of the approximately 2 million jobs added to the economy from July 2012 to July 2013.

Furthermore, the biggest net growth occurred in Texas, with 59,600 jobs, and Florida, with 54,000 jobs, and California, with 30,200 jobs.

“Construction of new homes is a major driver of our economy at the national and state levels,” said Frederick Treyz, CEO and Chief Economist of REMI.

“We estimate that for every new house constructed, between four and five new jobs on average are created,” he added.

Recent Articles by HousingWire Staff

Comments powered by Disqus