A Major Housing Affordability Crisis

The United States is facing a severe housing crisis, with a deficit of 4 to 7 million affordable units. In North Carolina alone, there is a shortage of 182,643 affordable rental units for extremely low-income households. This gap results in only 43 available rentals for every 100 households in need, forcing many into substandard housing conditions. Traditional construction methods are too slow and costly to meet the demand, a situation worsened by labor shortages, high construction costs, and restrictive land use policies.

Supply chain disruptions have significantly increased construction material costs, driving up housing prices. Additionally, the construction industry faces a looming crisis as 40% of its labor force is set to retire in the next decade, leading to a severe skills shortage. In this challenging environment, Western North Carolina, with its experience and infrastructure, has the opportunity to lead the shift towards faster, more efficient, and sustainable building methods. Those who recognize this urgency and take proactive measures will build thriving and innovative communities.