By Paul Emrath | Eye On Housing
As the U.S. economy struggles under the burden of the coronavirus pandemic, economists are discussing how a recovery might unfold once social distancing and other measures begin to succeed. A recent NAHB article illustrates the role home building can play in a recovery by generating jobs.
The article published updated estimates of the national economic impact of home building. The new estimates show that building an average single-family home generates 2.90 jobs, measured in full-time equivalents (enough work to keep one worker employed for a year).
Wages and profits are subject to a variety of taxes and fees. The national impacts of building an average single-family home include $86,759 in federal taxes and $42,888 in state and local fees and taxes, for a total of $129,647 in revenue for governments at all levels.