Builders Say New Work Visas Could Help Labor Shortage
WASHINGTON – The U.S. Department of Homeland Security (DHS) announced that it’s issuing 35,000 additional H-2B guest worker visas – a boost for the home building industry because it means more construction workers, according to the National Association of Home Builders (NAHB).
“Given the chronic labor shortages facing the home building industry, NAHB has been urging both Congress and DHS to expand the number of H-2B visas available each year, including restoring an exemption for returning H-2B workers from counting toward the program’s annual statutory cap,” NAHB said in a news release.
In January, National Association of Realtors® Chief Economist Lawrence Yun described the current shortage of construction workers as a” choke point” for the real estate sector.
“The slowness of growth in construction is leading to imbalances where those with new jobs are facing higher rents and higher home prices,” said Yun. He predicted that the ongoing shortage in housing is likely to last until the middle of 2020.
Source: Miami Agent Magazine (03/10/2020) Inklebarger, Timothy
© Copyright 2020 INFORMATION INC., Bethesda, MD (301) 215-4688
Information provided by Florida Realtors. Click here to see the original article.
Reprinted with permission Florida Realtors. All rights reserved.