It’s been quite the ride for the real estate industry lately.
While the recent rising interest rates have finally cooled the white-hot market, just a few months back, we were still seeing record home prices and the largest housing shortage in history. And even if would-be buyers are waiting for mortgage rates to fall, estimates show that the supply of homes in the U.S. is still roughly 3 million short of the demand.
Unfortunately, it doesn’t look like we’ll be able to build enough new homes to keep up with demand anytime soon. Even before the extensive supply and labor shortages driven by the pandemic, home builders across the country were struggling to keep up, largely due to circumstances that first began back in the 2008 housing crisis.
It’s clear that new solutions are needed to solve our housing supply challenges. And I believe there is a likely answer … though it comes from a very unlikely source: 3D printing.
This excerpt is from an article I wrote for BiggerPockets.com earlier this week, which really digs into ways that evolving technology will disrupt and enhance the real estate industry.