Desperate for 5,200,000 new homes.

In 2021 on the United States alone and even despite the incredible low supply, home sales were the highest in the last 15 years. The same happened with rental housing. The demand for rental housing increased exponentially during 2021, leaving little to no available homes and prices skyrocketing.

With this scenario, the construction industry must rethink its objectives and provide the market with fresh, innovative, quality and rapidly executed solutions.

The US Census found that 12.3 million American found their home from January 2012 through June 2021, but only 7 million new single-family homes were built during that time.

The current demand rises to more than 5 million houses, something that cannot be solved with traditional construction systems. With the implementation of new modular construction technologies such as Hüga Technology, small or medium-sized companies can finally build up to 30 homes per month with a small production unit. Changing the paradigm and our construction processes is the answer to find a solution to this deficit that continues to increase year after year. We are facing a historic opportunity and a business of billions.

There are companies that present solutions to achieve the digitization and industrialization of construction in an easy and orderly manner within a short period of time. Hüga Technology, winner of the NAHB Global Innovation Award 2021 is one of them, offering its partners the most innovative, reinforced concrete based modular construction technology in the world.

Whitney Airgood-Obrycki, research associate and author of the Harvard Joint Center for Housing Studies (JCHS) details in her report The record-breaking rental market: According to the US Department of Housing and Urban Development, there are 43.6 million homes for rent in the United States, but they are insufficient. Soaring home prices and low inventories have put homeownership out of reach for many, who must rent even as values ​​continues to rise.

Construction has an obligation to provide an effective response to this problem. Companies that make the leap towards digitalization and industrialization of their processes will be in a billion-dollar business each year and with a public eager to access their home, whether to rent or buy.

Here's another great article about the construction industry. >> Off-Site Construction, the only way forward <<

We thank you for reading this far and if you want to know more about this and many other topics regarding the construction industry, its pain points and how to overcome them click on the link below. We also invite you to learn more about Hüga construction technology, which contemplates  construction systems adaptable to the timeline of the builder who implements them.

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