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【World Property Journal】Housing Industry Poised to Lead U.S. Economic Rebound, Post COVID-19 Pandemic

【World Property Journal】Housing Industry Poised to Lead U.S. Economic Rebound, Post COVID-19 Pandemic

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According to a new study from the National Association of Home Builders, the U.S. housing industry stands poised to lead the economic rebound once social distancing and other virus mitigation efforts show success in containing the coronavirus pandemic.

Building 1,000 average single-family homes creates 2,900 full-time jobs and generates $110.96 million in taxes and fees for all levels of government to support police, firefighters and schools, according to NAHB's National Impact of Home Building and Remodeling report. Similarly, building 1,000 average rental apartments generates 1,250 jobs and $55.91 million in taxes and revenue for local, state and federal government. Moreover, $10 million in remodeling expenditures creates 75 jobs and nearly $3 million in taxes.
 

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