Why The US Can’t Build Houses Fast Enough Anymore

The United States is experiencing a shortage in construction materials.
Concrete is the foundation of just about everything. It’s used to construct buildings, highways, bridges, roads and more. During the Covid-19 pandemic, concrete fell victim to the same phenomena affecting other essential materials and goods: snarled supply chains and labor shortages. And demand for concrete has only increased after the Senate passed the $1 trillion infrastructure package.
Additionally, copper prices surged in 2021. The base metal remains in high demand, much thanks to its need in green energy projects and electric cars. In May 2021, commodities analysts at Goldman Sachs called copper ‘the new oil.’ That’s because electric cars need several times more copper than their gas-powered counterparts. And power grids getting electricity from wind, solar and hydro sources also need copper-much more than the industry is currently producing.
Steel is also in short supply and high demand. It’s in everything from dishwashers to cars. Since the start of the pandemic, steel prices have spiked 300% over pre-pandemic levels, pricing over $1,900 at one point. Some worry it’s a bubble that’s about to burst.
Lastly, the U.S. is running out of pain. Demand for raw materials in the paint industry soared over the pandemic as quarantined consumers took to DIY projects and home improvement. But supply couldn’t keep up as global trade networks broke down amid the Covid surge.
SEGMENTS:
00:00 -- Can The U.S. Cement Industry Keep Up With The $1 Trillion Infrastructure Bill?
11:24 -- Why A Looming Copper Shortage Has Big Consequences For The Green Economy
20:16 -- Is The Steel Bubble About To Pop?
31:44 -- Why The U.S. Is Running Out Of Paint
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Why The US Can’t Build Houses Fast Enough Anymore

[@davidbeppler3032]

When companies say "we can't find workers" what they mean is "we don't want to pay what people are worth."

[@constantineergius1626]

private sector draft and ban all worker unions problem solved

[@andreaslind6338]

@@constantineergius1626 great black humor man...that would be a nightmare.

[@constantineergius1626]

@@andreaslind6338 i wasnt joking. The problem is we dont have enough people actually working. Workers owe their employers absolute loyalty (unless they are woke) and the same with landlords and tenants. Unions are the reason why occupational licensing exists among other things its a barrier to entry for new workers.

[@andreaslind6338]

@@constantineergius1626 I strongly disagree. Workers owe their employers nothing nowadays, beyond a good day's work. There used to be an implied contract between workers and employers for loyalty on both sides, but not any more. I agree that trades councils and unions create barriers to entry but they also ensure high standards of work, would you like to be operated on by an unlicensed surgeon even if he was cheaper? How about having an unlicensed builder build your house? Very cheap, but possibly dangerous.

[@constantineergius1626]

@@andreaslind6338 i am fine with surgeons not needing paperwork although i support the death penalty for malpractice. But in all fairness i dont think people should need a liscense to sell food, alcohol. the economic damage from having regulations is too much. Also we have around half the population not even wroking

[@mikew2610]

They always talk about a labor shortage but don't talk about an adequate wage.

[@TheINFJChannel]

We're saving that money for the robots. Humans are too prone to error. Robots get it right the first time. Why pay for mediocrity when we can use money to build more bots for efficiency? #logic

[@alankwellsmsmba]

To be sure, skill is always available at a price. But licensing restrictions set that bar needlessly higher hurting (potential) workers and their customers.

[@retrocloud760]

Labor costs have gone up. I'm sure this means a higher wage

[@CRIPMAGE6]

Exactly, yeah come destroy you body for 15$hr for 12 hours a day.

[@danielpaez1724]

There is no labor shortage! How stupid can people be. Imagine going to the Wal-Mart and demanding they sell you a 65" TV for $5. You wouldn't call it a "TV shortage"

[@3daysgracegirl4ever]

I currently work as a concrete mixer truck driver. I make 16.50 an hour. I put in my two weeks yesterday because I found a better paying entry level tech job. I would have stayed if they paid more.

[@MrKongatthegates]

God in portland taco bell is advertising for 16 and cant fill them

[@thewolfofgod3908]

Highlights a structural economic failure if you think that’s fair and yet no takers. I remember Fox News blaming this on stimulus payments, the real issue is people won’t ever pay to work.

[@dedhampster4730]

After working in home building (accounting dept), i can tell you that the lack of skilled workers is absolutely because of companies not paying blue collar skilled labor a fair wage or contract price. Instead, the job goes to the lowest bidder who hires illegal immigrants who provide an I9 letter falsly stating that everyone working is a citizen. The company can claim they didnt know and the sub contractor disappears if anyone cared to prosecute. The only reason meat processing plants get in trouble for illegals is because you cant disappear a whole plant, but a work van drives away with one name on the side and returns with a new name on the side. And it isnt the poor or working class that benefit from lower production costs. These laborers are building for the land lords, and people who can afford a $500k, 3 bedroom, 1700 sq ft house with 12 foot ceilings and faux colonial columns and flagstone facade. Bleh.

[@johns3465]

American capitalism $$$$ has been going to 3rd world countries for cheaper laborers cheaper taxes cheaper real estate. Is natural even England hired cheaper laborers from Eastern Europe.

[@daveparker5569]

Absolutely true. Ive been saying this for years.

[@billderinbaja3883]

I am a General Contractor, and this is complete distortion of facts. You are making this up because it suits your pre-conceived narrative. Get the REAL facts and find out how our Immigration System is hurting Americans and American Businesses. Without Mexican craftsmen, nothing would get built here!

[@Crazzilla]

100% accurate. I see it daily delivering equipment to job sites. It's all illegals doing the work. I've also been on the flip side as a roofing contractor where there is no way to under bid a crew of 10 mexicans all living in the same house together splitting the bills. Democrats are handing our country over to outsiders.

[@anabelsanchez4605]

Exactly

[@TheMrgoodmanners]

There's no shortage of houses. It's ghoulish wall St firms hoarding houses

[@javanjackson6918]

LOL ok buddy

[@SquiggleSquared]

No point building more houses if we're just going to be outbid by rental corporations.

[@greenmachine5600]

Not true actually. It's simply supply and demand. Not enough houses are being built, that's a majority of the problem. As well as lack of density

[@mimishandle]

@@greenmachine5600 two bad truths can exist. In this case, both of these are issues for American home buyers.

[@carrieullrich5059]

17 million empty rental properties no one can afford, one million homeless people. We have more than enough housing, corporations, foreign investors and rich people are allowed to horde as much housing as they want, and to literally ask more than most people could possibly pay.

[@sofiadragon6520]

R1 zoning laws are a big issue, and many of the empty homes that currently exist are vacation homes, in disrepair, or in places without services or jobs (old farmsteads where the surrounding land is now farmed by a larger company.)

[@mikhailmobius2308]

It's true it will happen like that for some time, but once the supply is high enough that some things MUST sit empty, that will start to change fast. One law: a tax on a building not being occupied by a family who owns it, then drastically increase that tax to empty buildings owned by any entity that is not an individual. Finally, homes that are repossessed by county governments for tax failure get auctioned and bingo we take the land back from corporations.

[@timberwolfe1645]

SOoo...because Demand is high, I can't get my house. Everything is charging 3X. My pay didn't go up 3X

[@nickhershey3358]

Oh, remember the push for $15 an hour? They said inflation would not occure. $100 an hour minimum wage will be a poverty wage. Increased money supply pushing fewer productions causes inflation. A recession indicates productions slowing down. Lockdowns shut productions down. Prices don't fall if people buy at that price. Houses...local governments control the short supply.

[@brandonsmith8166]

Copper prices are absurd. I just spent $1,300 re-wiring my whole house. Luckily I did it my self and saved another $10,000

[@randyrobineau2699]

I wired my whole house too, but when it came down to be signed off for the permit things went sideways. The city didn't want to even look or even inspect unless I pulled in a licensed electrician. I ended up going through 3 electricians which all did nothing but bill me for hours of work. The electricians didn't like me being on site watching them work. The bills never added up correctly (hours worked were always rounded up to 8hrs a day even if it was more like 4hrs, the cost of materials was always tossed in even though I supplied everything) and I always paid their bill in full and then fired them. This became a very costly process (costing over $10,000 for a small single family house which also had it's ceilings and walls already open, no demo, no wiring, no adding, nothing was needed or done by the electricians except for adding pigtails to the rough-in boxes) and this was to only achieve a rough-in inspection.

[@chrispaul1117]

"luck" doesnt exist

[@universalservicetechust3578]

I just replaced my air conditioning condenser and radiator my 2015 Ford Explorer, parts were $800 and seem to have gotten the last radiator in my area 😦saved 1k in labor 🙏🏼

[@buckhutton7697]

@@randyrobineau2699 sorry to hear that sir. In the state of Virginia a homeowner can pull a permit and the inspectors are usually pretty helpful along the way to make sure the projects get completed. I put in a new breaker panel for a house I owned and even though I am not a licensed electrician, I was able to pull a permit as a homeowner.

[@randyrobineau2699]

@@buckhutton7697 In Mass I'm able to pull permits being the homeowner which I did (I pulled 3, the building, electrical and plumbing). But the city didn't make it easy and forced me had have a licensed professional for each individual license (structural engineer for building permit, licensed electrician for electrical permit, licensed plumber for plumbing permit and they also wanted a licensed contractor but I refused to do so).

[@btccoins5514]

10:38, what the hell is he talking about? For many decades now, SOCIETY valued blue collar jobs as second class citizen.

[@Striker50_]

🏠 It was delayed on purpose. My family brags about how their multiple properties are in the millions, but then are baffled why us younger people can't buy a starter home. They hoarded all of the properties, and don't allow for any new building. 😤

[@osl5686]

The media blame corporate Landlords - they are the minority if buyers. Most is because of zoning, uppermiddleclass investors and flippers, foreign buyers and disruption in materials/labor supply. IN THAT ORDER 🤬

[@Aaron-uz8xt]

You sound real privelaged, try living in generational poverty

[@shashuabates1310]

@@Aaron-uz8xt How is that privileged? They still can’t afford to buy a home.

[@Striker50_]

@@Aaron-uz8xt All of my family is from Mexico. Lived 14 people in a house, yup real privileged Difference is, houses cost like 50¢ 40 years ago

[@lolcatjunior]

@@Aaron-uz8xt Us low income people with Mexican ancestry are far from priveleged, 10 of us once lived in a two bedroom apartment. I never even had my own room until I graduated from highschool.

[@cody3247]

We actually have enough homes in the country to house everyone. The problem is that we have investors (both foreign and domestic) that are just letting them sit there and not doing anything with them. People owning multiple homes is the real reason for this shortage.

[@northwestgardener5076]

It isn't people that own multiple homes that is the problem. It is corporations that are buying 30% of all homes that go on the market and turn then into rentals that people will never own. That the problem.

[@EliteCannagivers]

@@northwestgardener5076 exactly

[@nate4fish]

There is a shortage of housing. In strict numbers there are enough buildings to house everyone and except localized exceptions everyone is housed. You can notice the shortage if you look at national averages, long term 35y average vacancy of inventory has been 12.3% rentals plus for sale. Last year it was 10.9%, and less inventory in each category. The problem may also continue to get worse as 2022 forecast construction of 1.6 million units with a need forecasted of 1.3-1.7 million units.

[@constantineergius1626]

thou shall not steal. The wages of sin is death. Why should the poor get things they havent earned. People whom made great decisions have multiple homes. Also in many states people are afraid to rent because tenants often trash the house (which warrants the death penalty)

[@RIfMlLVrdhpPYbHCcTqjnEFGgNyKku]

My Parents own a House in Veil CO, Orlando FL, Daytona Beach FL, Portland OR, and Santa Rosa CA. We live in in the UK and use them for Vacationing in the Americas

[@hollow3256]

labor shortage. could it be that everything is too expensive or pay isn't high enough ???

[@dknowles60]

burger king in my town starts at 14 per hour

[@J-berg]

Also the few houses constructed are usually very poorly and quickly built

[@Landis_Grant]

Constructed by unskilled Mexican labor.

[@retrocloud760]

Cheapest bidder. Not always the best thing

[@twocansams6335]

That has to do with code, they do just as much to meet code to make the most amount of money. The people writing the building codes have to be very specific.

[@J-berg]

@@twocansams6335 doing the bare minimum to meet the code is part of the problem

[@inctru]

The U.S. needs to build more tiny & smaller home communities. Laws also need to be passed that prevent/curtail corporations & business rental interests from buying residential properties that they aren't going to directly live in. But, neither will happen in this corrupt, predatory, corporatist nation of thieves.

[@northwestgardener5076]

Corporate landlords are the modern slavery masters.

[@filip9564]

@@northwestgardener5076 lmao no. Just no

[@inctru]

@@victorhopper6774 I'm talking about the people/institutions within the USA, which anyone with functioning brain cells can easily extrapolate. You just described yourself, LOL.

[@Iquey]

@@filip9564 "modern" is the keyword.. Though I maybe wouldn't call it slavery like African chattel slavery. It's more like being a "Feudal Lord"....and your renters are the serfs. 😡

[@juriaanoussoren]

People could also built only ufo small houses so that we get the the current time and the old houses get cheaper because it's old instead of this never ending drain of water that can't be stopped

[@kreteman7779]

I got an idea. How about these companies start paying skilled labor more money. How about a little respect for the skilled labor. It's been demonized for years and now here we are

[@davidbeppler3032]

When companies say "we can't find workers" what they mean is "we don't want to pay what people are worth."

[@Dota2funny]

Bad good idea, inflation would rise and USA will get hurt, people would get globally richer but rthe country poorer.

[@kreteman7779]

@@Dota2funny So you think give blue collar skilled workers raises is what would cause inflation? Look around man. Inflation is here and its not because a concrete finisher got a damn raise. 🙄

[@chrism8180]

@@kreteman7779 that's the thing though, even if everyone got substantial raises, with inflation, the income/expense percentage would level out. So either way your social standing in society won't change. You'll see it in your paycheck, but not in real life terms

[@Striker50_]

@@chrism8180 Inflation isn't a 1:1 ratio buddy 🙄 Many people would save or spend it on functional necessities

[@IamCaleum]

In my area they are having ZERO issues building, but they are only building houses that are too expensive for the market so there are over 800 houses the companies are sitting on that are over $500,000 in my area when even $350,000 is way to high for this area.

[@danielmankinde1706]

have you built any house before?

[@elizabethblane201]

That's why there's likely to be a housing correction or crash in prices: the unsustainability of local wages vs cost of housing.

[@danielmankinde1706]

since theyre Zero issues ,why dont you build

[@danielmankinde1706]

@@elizabethblane201 Okay Elizabeth Shiller, with supply capped and demand steady, there is NO "crash" in sight.

[@elizabethblane201]

@@danielmankinde1706 Demand seemingly steady with a capped supply may seem like it will prevent a crash, but if we look at the numbers, here is what we see: -"Accounting for inflation, home prices have leapt by 118% since 1965, while median household income has increased by just 15%." -To afford a home in 2021, Americans need an average income of $144,192 - but the current median household income is actually $69,178. This cannot go on for very much longer without something giving way. Bottom line: Since 1965, home prices have increased 7.6x faster than income. Even if there is a shortage of inventory, if people cannot qualify for a loan, prices will have to come down.

[@CreatingAlong]

"As more millennials buy there first home." - Funniest joke I have heard this year 🤣

[@Striker50_]

They always reference the 40y.o.+ millennials, the ones under 35 are abysmally F*****d

[@Zincink]

I'm GenX and I laughed too. We buy cat food, not houses.

[@SoulDevoured]

2 more is technically more... There's really not a housing shortage so much as there's a hoarding problem. Corporations buying homes to rent, selling to flippers, things like that did their part to drive up prices. Then foreign and domestic wealthy people buy 2-10 homes. Rural life has been associated with crippling poverty and stagnancy for decades so no one buys or builds out there. Suddenly it's an option for remote workers and there's almost nothing on the market. To pair with your joke friend... Yes it is greed that made it so we can't afford homes. But it's a surprisingly complicated greed. I didn't even mention public/subsidized housing and zoning laws. A bunch of twats in a bunch of places wanted to sculpt an ideal america but of course that really just meant ignoring the problems until it reaches a breaking point.

[@kfl611]

I'm soon to be 61 and yet to buy my first house !

[@greenmachine5600]

@@SoulDevoured there is still a housing shortage either way.

[@mojavedesertsonorandesert9531]

There are no driver shortages, companies want to pay peanuts, it's not worth the time.

[@rapid13]

Whatever the reason, if there are not enough drivers, that's a shortage.

[@davidbeppler3032]

@@rapid13 No shortage of drivers. Shortage of money. The CEO should drive a truck. He is paid enough to do it.

[@rapid13]

@@davidbeppler3032 Like I said, it doesn’t matter the reason. If people who would otherwise be driving aren’t actually driving for _any_ reason, there’s a shortage of drivers. The “why” doesn’t matter: if there aren’t enough doing it, there’s a shortage.

[@Striker50_]

@@rapid13 Of course it matters. I'm registered to do rideshare, but I'm not driving for their crap wages. The drivers are there. The pay isn't, so it's a pay shortage

[@rapid13]

@@Striker50_ No, it doesn’t matter. This is a simple concept; it’s just math. If the number of driving jobs is greater than the number of drivers willing to do those jobs, there’s a shortage of drivers. The “why” _does not matter._ Math. Got it? Stop saying there’s no shortage. If you’re not willing to drive, for any reason whatsoever, _you’re not a driver._

[@CalmDownShh]

Interesting how the same people criticizing people for not having a sufficient "rainy" day fund are the same people involved in the companies across the board that didn't have a sudfient stockpile of supplies incase of any number of problems that could hamper supply.

[@jordanjenkins1671]

Yeah, and it didn't help us that in the 2000s the Federal Reserve took the burden of risk onto itself by promising to insure the NINJA loans so that investment companies could be incentivized to buy all the NINJA mortgage loans off of banks. As we know the 2008 crash happened, and the Federal Reserve bailed out the investors as promised. Making us all the poorer because we lost homes, lost jobs, and saw all our tax money bail out the investors.

[@MadMan920]

That would have hurt their previous quarters profits tho

[@freakinfrugal5268]

Jimmy - very good point. But product costs money. You can't stockpile your product- you gotta move it forward. I think it would help if we were a society not still so compelled, after all these years of knowing better, to always want more more more.

[@chrism8180]

@@freakinfrugal5268 marketing and advertising has a heavy hand in that. I people stop buying, manufacturing halts, that happens, then slowly domino's fall. It all comes down to stupid money flow, and interrelating all human relationships to it.

[@jamesbra4410]

Well come on I mean you're supposed to put a portion of your salary, 15%, in a savings account every payment period in case of turmoil in the market prompting the company to let you go or another dilemma associated with the market or the worker. The average time it takes to find a salaried job is 6 months so your fund should account for that much as your present budget trajectory.

[@benryans1689]

why would anyone want to do these jobs that don't pay what people are work. Yet again blaming young people not wanting to work for scraps for problems caused by capitalism.

[@cianog]

Don't have a job...see where that gets you.

[@shamefuldisplay9692]

@@cianog they do get jobs, just not the ones you want them to.

[@CrazyAime8D]

Maybe we should prevent corporations from Hoarding houses !!

[@y.r.9401]

Yes! And stop those greedy cash investor groups!

[@grahamstefaan]

Free market.

[@aggieschoonover4235]

Once again, the construction industry suffered a huge drop in wages when marketeers hired foreign workers that undercut during the false real estate boom of the 2000s. Fewer and fewer Americans moved into the industry as workers thereafter, not wanting to do such back-breaking work for such low pay.

[@e.priest8937]

This is a huge unacknowledged problem in Canada as well.

[@habibbialikafe339]

can you provide link to sources? pretty sure most of the industry is unionized and pay is standardized. plus america has minimum wage laws and can't pay foreign workers less. if you mean immigration coupled with marketing increased the supply of workers then okay, but its not particular to foreign workers, simply a matter of increased supply

[@e.priest8937]

@@habibbialikafe339 im a construction worker. The books, stats don't reflect the reality. There is an enormous non union sector. And unions that allow piecework.

[@dknowles60]

@@habibbialikafe339 wrong. Many states are Right to work states. I have lost many jobs from mexicans that seank across the Us border. hint my son at lowes makes 20 dollars per hour. i only make 17 for 25 years exp plumbing million dollars homes under the 2018 IRC. pay is poor. the only thing that helps is i can take home the truck and the boss pays for the Gas. truck is not the best 1997 ford f250 400k miles but i an thank full for what i have. when texas had all of then pipes bust you would have thought there would have been a need for a lot of plumbers. no they just had a lot of mexicans come in and due the job a lot cheaper

[@haihengh]

@@habibbialikafe339 unions are the most corrupted organization in US, and your min wage law won't work for illegal immigrants, since the person hiring them break the law already. home depot in Bellevue WA, it used to be like twenty/thirty people waiting outside looking for someone to hire them for home improvement job. a lot of the contractor just pick up a few Mexicans to do house painting and pay them couple hundred per paint job, the Mexicans that worked for the builder that built my home in Winston Salem NC, clearly, are illegal, they let their kids sitting inside their car while they work on a paint job in hot summer. there just isn't that many American workers willing to work on construction anymore.

[@michaelrivera3137]

I haven't watched this yet but I'm going to assume that they don't touch on the fact that there are plenty of houses. They are just unaffordable to the average adult.

[@dawnbolton6024]

Yeah see a lot of 3,000 ft homes in my area as well. I live in a 900 square feet home. What about all the vacant homes?

[@flyyyjr]

“….Exactly, I can’t really wrap my head around this title, all the houses in AMERICA 🇺🇸, OMG…there should be no homeless detriment here, there also should be no hunger here, OMG all the wasted food, throughout each & everyday is something I just can’t put into words that would suffice a definition”!!! “…For me if one hand washes the other, then there is a way of better proving too the wasteful needs that could have benefits for ppl not too be hungry & as well as homeless”!!! “…The best persons more over than the ppl whom have the jobs of doing what needs too be done instead of wasting & ignoring the many of vacant houses already sitting there, the best person for the job, is the person with the qualifications too do it”!!! “…Those ppl are the ones that have been or are homeless, those ppl that are or have been hungry”!!! “…They most qualified bc, they’ve been there…sometimes some of them have been both, but, it’s a shame that they are viewed as nothingness…Ppl should be wary of that type of thinking bc, that situation could very well become anyones situation at any given moment”!!! “…Hunger and Homelessness hath no assigned name attached too it”!!! G-MOMMIE

[@warthog473]

@@robertlee6338 part of that is due to child care being insanely expensive. Most of the people I work with that didn't move away stayed because of family. Two incomes, free childcare with mom, sister, aunt, what have you, those are the people I see going on cruises every year, buying a new car every 3/4 years, putting additions on their houses. My mom is 300 miles away and my in laws were in Florida for several years. Man, did we struggle. It was cheaper for me to stay home than pay child care. We had one child and with one income, doing our monthly budget was a nightmare for me. I bought a lot of stuff from Goodwill, that's for sure.

[@tomcat8662]

That’s actually not true at all. Look up supply and demand. When you shut down the economy for a year because of covid, that means you put home production behind by a year. That takes several years to catch up for all that lack of productivity.

[@tomcat8662]

@@dawnbolton6024 What vacant homes are you talking about? Where do you live? There is nothing vacant where I’m at.

[@eligreg99]

Why do we need to build houses? Lower the prices of preexisting houses that are empty. That is the main problem. Unused overpriced houses.

[@Striker50_]

But then they wouldn't be tax havens for the corporates 🥺

[@marius8333]

More houses = lower prices

[@eligreg99]

@@marius8333 Building new houses doesn’t matter if the price tag is out of reach for majority of middle class Americans. There are so many empty apartments around my city because the rent is crazy. They build more apartment buildings and the newer ones are asking for even more rent than the older ones

[@marius8333]

@@eligreg99 If nobody is renting these places out, that means the landlords have to lower their price as it is above market value. Building even more housing to an already uncompetitive market would force landlords to further lower rent to have tenants. This is economics 101.

[@marius8333]

@@eligreg99 banks, funds and rich people buying real estate as assets is irrelevant to our problem because it doesn't overlap with the market for middle class americans

[@HenryPaulThe3rd]

Almost none of the “infrastructure” bill actually goes to roads and bridges.

[@SoulDevoured]

Where's it going then?

[@HenryPaulThe3rd]

@@SoulDevoured Only 9% of the bill’s funding went to roads and bridges. Some of the other items were $20 billion to “Advance Racial Equity and Environmental Justice”, $10 Billion to create a “Civilan Climate Corp”, and Billions to “eliminate Racial and Gender inequities in STEM”

[@SoulDevoured]

@@HenryPaulThe3rd I could see how those are related goals but honestly I'm used to them being as vague as possible so that they can essentially launder the money or quietly let the program die.

[@abraham9446]

America's doomed.

[@rock3tcatU233]

@@SoulDevoured Nancy Pelosi's wallet.

[@nygeek6471]

The level of BS here is astounding. They’re not building new houses because the profit of buying a house and selling it for 20% more a year later is way higher than building a house from scratch. That’s why there are *publicly traded companies* who’s only function is to buy and hold real estate, and why rich foreigners buy land in the US (see Manhattan) as an investment, pricing out everyone else.

[@bro6568]

The corporate stakeholders and rich Wall Street executives as well as politicians that are allowing this to happen alongside all of us will be judged by God one day. I wouldn’t want to be them on that day.

[@milanimorales2645]

At my job (furniture store) people ordered items last year(2021) and are still waiting on them in 2022. The COVID pandemic really did some damage on all the US, businesses, everyone.

[@holdencawffle626]

Thanks Chinese people

[@Therehabanddocumentationguru]

The response to the pandemic created the issue.

[@thewolfofgod3908]

@@holdencawffle626 This is an ok statement for you.

[@nickhershey3358]

A virus didn't pass lockdown dictations. The 2022 mortality rate is the same as 2020, where are the daily death stats on national news networks?

[@HarmeetNijher]

I am in the trucking industry. I hear this all the time there's a shortage of truck drivers. In real trucker’s are not paid well enough to do the trips since 2000 trucker’s wages are not risen, brokers and big companies are making profits, not drivers. That's why not many new drivers join the industry.

[@leweezo33]

I was listening to CNBC today and they say a lot of truckers are leaving the big companies and starting their own trucking companies because of what you said. It is very possible in this cliimate because truckers are the red blood cells of America

[@harenterberge2632]

When employers say: " I cannot find any people", they actually mean: "I cannot find people willing to do this job for a low salary".

[@HarmeetNijher]

@@harenterberge2632 exactly right

[@frankcoffey]

I've seen explosive growth in the Dallas / Fort Worth area since 1982. Open fields get filled with buildings so fast it's shocking. But you know what, not once since 1982 has even one person said "will we have enough electricity, will the grid hold?" But the first time someone buys an electric car everyone panics. If we plan for all that growth we can plan for cars also.

[@fakename6106]

If zoning laws start allowing more multifamily homes like four and sixplexes it would significantly change the housing supply demand inequality

[@donaldkasper8346]

Zoned areas are already built up. Denser zoning is impossible as the roads, schools, water, power to support them was made for low density housing not high density housing. You don't just make denser housing without chaos. I notice in Santa Monica, CA for example, the roads are jammed, so locals oppose high density housing to make bad traffic impossible traffic. Out in Palmdale, with lots of land, there is no water and developers have to secure water for big developments.

[@doctorisout]

No. Allow building these. But even more what people want. Think of your dream house.

[@douglei4413]

@@donaldkasper8346 Factories with different start time and off times can lower traffic jam. Or have day shifts and night shifts. for example my friend's employer now starts work at 6 am instead of 7am. now he drove 15 mins to work instead of 1 hour when it starts at 7am.

[@donaldkasper8346]

@@douglei4413 Yeah, my sister lives with me, gets up at 3am to commute. It works.

[@jeffb3469]

Their isn't a housing shortage.

[@lovemesomepollo]

Still blows my mind how Romans did what they did and we can’t get it together.

[@patrickbateman8433]

yeah slave labor is how they did what they did.. fear of torture and death really gets people moving

[@kfl611]

Their economy was largely based on slave labor.

[@lovemesomepollo]

Yes of course don't mean to dismiss slave labor. Just hoped 2,000 years would be enough of an edge to fix our roads and harness high speed rail and have truly walkable and bikable cities and do better than strip malls and cookie-cutter homes. Our infrastructure and urban planning and architecture and construction are a travesty, and if you don't think it contributes to a modern form of slavery for us all (some way more than others), think again.

[@kfl611]

@@lovemesomepollo I think all of those thinks might be easily done, if we didn't spend more than the rest of the world combined on the military, and were also. so very wasteful. But I could be wrong.

[@ursulasmith6402]

Europeans, enough said, thay know how to plan, distribute and built, what lasts and lasts.....l

[@ballsdeep9400]

It's not a shortage of houses, its people owning 30 rental homes

[@constantineergius1626]

i mean work harder thats on you not them. Those whom make better investments have more capital thats how economics works

[@ballsdeep9400]

@@constantineergius1626 I can almost guarantee you in these markets you’d never own that many homes without having daddies money, this isn’t 1960

[@zacharyhall689]

@@constantineergius1626 And how exactly are you really creating value for the economy? How the heck are you improving anyone's life but yourself?

[@constantineergius1626]

@@zacharyhall689 indie game im trying to bring a few people into it. You understand that ambition is more important than "muh workers of the world"

[@thedekunutt8982]

@constantine ergius I had some fool in my office crying about how his rental properties weren't producing value because he had raised rents and his tenants weren't paying. He had to spend thousands of dollars to have them evicted and now can't find people to lease the more expensive units. I told him that he assumed the risk of capitalism and he had no right to complain when the risks bit him.

[@angusosborne3151]

was a mechanic for over thirty years and I always saved copper, brass, aluminum and other metals. it got me extra cash to subsidize my poor pay back then. now it's considered recycling.

[@juansalas6259]

Yep. I was an ASE Master Tech for ten years in the 80s and 90s. I bailed and went back to college as I saw the life of the auto mechanic getting worse year after year...

[@frankthetank3083]

copper is not "the best conductor known to physics" (13:45), silver is actually a better conductor. copper is just the most useful conductor because its easily recyclable and relatively abundant compared to silver.

[@smoothbraindetainer]

And they put this smoothbrain in charge of commodities research

[@danichats8047]

"not entering trade" yeah if I had European style safety nets for when my body gives out maybe but between horrible labor laws and no quality of life guarantee if I get sick or hurt long term from using my body that way who would? Right to work laws gutted unions by design and now no one goes into trades imagine that.

[@flyyyjr]

“…Put Nursing right up there on the top lines of work that will destroy your body”!!! G-MOMMIE

[@jeffb3469]

Well if you didn't live paycheck to paycheck depending on Government to take care of you when you were older you would find out investing on your own would be better.

[@danichats8047]

@@jeffb3469 you and I have a fundamental misunderstanding. its not "depending on the government" it having the security to take risks in your life and actually getting something besides a military for the 30-40% of my income I contribute. You can't invest if you have to keep savings in case you lose your job or get sick. You can't be generous if you live afraid of your bosses temper. Lack of safety nets holds back the US economy and reinforces poor working conditions. People are so worried about someone else getting something they ignore all the stuff corporations get. Just like education it should be looked at as an investment into our country and our community to provide for one another. Rugged individualism is anti christian, anti family and children, and anti-community involvement all things the USA suffers from all in the name of the "owners" making more money and hurting people you don't like. its gross and I want to move to a place that takes pride in providing a standard of living to its people even if I can't own an ar-15.

[@jeffb3469]

@@danichats8047 so basically because you are ignorant and you want others to take care of you because you have no self control and don't know how to live within your means to build your base up for a better life.

[@jeffb3469]

@@danichats8047 people fail due to being ignorant has nothing to do with their background 🙄. You sound like the child in class that doesn't want the A in school so he does nothing so literally fail and expects the teacher to grade on a curve so everyone passes. I implore you to get out and educate yourself on how to live within your means .

[@jacobgoldenofficial4321]

Workers are being paid 18 to work with concrete Taco bell pay $17 to be a cashier

[@rocketpropelled]

Construction pay has been stagnant or decreasing since 2000. Of course the union pay has went up but that's not free market and propped up by the government. Most duct men I know make atleast 25% less then they did 20 year's ago. It's pretty sad.

[@davidbeppler3032]

When companies say "we can't find workers" what they mean is "we don't want to pay what people are worth."

[@buildingbuildercip8292]

I’m an operations manager for a union concrete construction company. We hire carpenters , laborers, mason’s, iron workers, mason’s, and concrete finishers. Everyone of our men at journeyman level are making an avg of $45.00 an hour not counting vacation pay, pension, annuity,and benefits. Carpenters were just given a $13.00 per hour raise paid out over the next 4 years. Forman are paid $4.00 to $8.00 an hour over that. Superintendents are earning $175k to $225k a year. You must be talking about non union workers who show up to work in tennis shoes, shorts, and a baseball cap. Big difference. The pay is plenty good enough. We still have a shortage of good men…at least in the company I work for. We do almost $1 billion a year in work, and growing.

[@rocketpropelled]

@@buildingbuildercip8292 What you are talking about is union government welfare. There's a reason every job is 5x over budget and 2 years late. You're it.

[@westmax8491]

With all these right to work states that conservatives have been pushing, good luck with having great wages, worker rights etc.

[@dawnbolton6024]

When is the discussion going to happen, on all the vacant homes in all these communities????

[@UnicyclDev]

Build more walkable less car dependent communities so we aren’t burdened buy the high cost of infrastructure and car centered development.

[@Cyrus992]

Walkable areas can exist dominated by single family homes

[@georgeanthony3800]

@@Cyrus992 how so? any examples cause i have yet to find any

[@Cyrus992]

@@georgeanthony3800 Certain neighborhoods of NYC, Boston, DC, Chicago, Savannah or Charleston

[@greenmachine5600]

@@Cyrus992 stop boxing in these areas. That's messed up.

[@Cyrus992]

@@greenmachine5600 please elaborate

[@neonspark707]

it is a corporate scam. there are no shortages. plain old greed

[@constantineergius1626]

enlighten me on a system that worked that wasnt driven by profit

[@westmax8491]

@@constantineergius1626 the issuebis that companies make much more profit just that they underpayment employees.

[@constantineergius1626]

@@westmax8491 supply and demand most kinds of labor just reallly arent valuable economically if enough people are willing to do them.. The bigger problem is so many people arent working or starting their own enterprise. This fact means that less value is being produced by the economy and the government is still paying tens of thousands of dollars per case in benefits all money that isnt going to the workers. Outside of a few indusstries profit margins are pretty damn low across the board due to competition because of that If companies werent subsidizing

[@neonspark707]

@@constantineergius1626 I will enlighten you: look up anti-price gauging, price fixing, and similar legislation. If you think "anything goes" as long as "profit" then send me your paypal. I'd like to send you a dollar to buy yourself a clue.

[@constantineergius1626]

@@neonspark707 you mean price controls and rations? isnt that literally just top down socialism. Forcing people to sell food, resources and land at a loss would lead to nobody willing to do those jobs anymore. Would make the situation worse. When communists set prices in the past it led to massive shortages or a comical decrease in quality where nobody was allowed by the government to have a better standing of living. "price fixing" always leads to rationing youll end up with people waiting years for a car, hours on line for food, having to apply to the government to get a house. Anything goes in economics and any attempt to seize private property should be met with lethal force. I know people with rentals. forcing them to sell at a loss would make sure nobody would ever get involved in the housing enterprise again. You sound like someone who would rather the government entirely control housing which would lead to the soviet system where the government can decide where you live, if you can live in a house, where no matter how much you contribute you get the same

[@alangivre2474]

Can you call the "labour shortage" for what it is? A wage shortage?

[@constantineergius1626]

i mean we can always ban trade with china and mandate employment, people get paid what they are worth thats how economics works

[@spacetoast7783]

Kinda. If labor gets too expensive, some products become unprofitable so they don't get made.

[@constantineergius1626]

@@spacetoast7783 exactly

[@titolovely8237]

well it isnt just that. it's also a labor skill shortage. i work in an industrial chemical plant making resins. it's not the kind of job you can just hire someone for. it's a very specific skillset that's required. so even if they offer very competitive wages, you still cant find people, because generally speaking the people with said skills are already employed. in a bull market for employment, the people companies want for these positions already have jobs. so youre right it isnt a labor shortage, as theres plenty of people out there who want to work, but it is a skilled labor shortage, especially in trades. as i said, where i work we simply cant find people. theyve raised wages three times here and we've only hired 2 new ppl and we need more like 12.

[@scored5]

@@titolovely8237 lol same in the trucking industry. Where I work we need like 20 more drivers and lucky if we get 2 a year to stick around....it's all a hot mess

[@albert275]

Learned a lot about the materials that built our society from this video, really appreciate the research done here

[@jakeriffle6719]

The fact you don't have the mental capacity to think "what is a house, what makes up a house" and how that connects with the supply chain, without the media telling you, speaks volumes.

[@trevorssillyplace]

They missed the part about the red tape holding back development. In PA to do a typical subdivision for residential housing you will need to get municipal approval, planning approval, dep approval, conservation district approval, any specific council approval before you can stick a Shovel in the ground.... about 2-3 years if you're lucky. Then you can construct which also require a multitude of inspections and some more plan approvals. All in all typically a 5 year process which only 90 days of it is the construction of the house. Supply shortage is really irrelevant. Reduce the red tape supply goes up cost goes down.

[@BeaversElectricDam]

Jeff Currie, Goldman Sachs: "Copper is the single best conductor of electricity known to physics, as well as the periodic table"" LOL, wrong!! Silver is the best! Goldman Sachs "Head of Commodities Research" don't know, that silver is a better conductor of electricity than copper - that's a huge Fail @ Goldman Sachs! LOL

[@Iquey]

They don't want the silver price to go up. Obviously it's used in solar panels already, and had been used in mirrors for hundreds of years.

[@tradeviolin7741]

bigger problem for housing are companies like black rock and zillow hoarding. And government regulation and inflation also contribute to this problem.

[@northwestgardener5076]

As long as politicians own stock in black Rock no one will be getting a home.

[@justinfowler2857]

Too many people look down on skilled trade.

[@emilsafonov2835]

The guy at 11 minutes says he’s disappointed young people aren’t going to skilled trades but I’d bet my money on him not sending his kids to a trade school. They want ‘other’ people to do the work, not them or their kids.

[@justinfowler2857]

@@emilsafonov2835 Probably. He'll tell his kids it's hard dirty work and they should go for a better job

[@antonioa6518]

I’ve been a blue collar worker since 2013 (structural Ironworker). I’m sure people look down on me (us workers), but at the end of the day people are going to talk smack whether you do good or bad. You just got to remember that it’s a good paying job/career, there’s always money in my/your account & at the end of the day…you have to realize that…you’re not struggling like how some white collar folks are (due to COVID). Yes it’s hard work, yes it’s dirty, you MUST travel to make good pay (above $2,000 per week) but I’d rather be a blue collar worker then a white collar, since I like: building/fixing things + fabricating items from scratch. That’s a skill set that would set me apart from the rest…no matter what economical situation we’re in.

[@chuyito1010]

@@antonioa6518 respect my guy 💪

[@sarahboulger9104]

Right. And they would be nothing without us

[@stanleyjavin4911]

I realized that the secret to making a million is making better investment. I always tell myself you don't need that new Car or that vacation just yet and that mindset helps me make more money invest:ng. For example last year I invested 70k in blue chip stocks and crypt0 s (with the help of my advisor of course) and made about 380k, but guess what? I put it back and traded with her again and now I'm rounding up close to a million. Delayed gratification always pays off

[@stanleyjavin4911]

@Stacy White I found her on a CNBC market interview, so I looked her up and we begun our awesome partnership

[@stanleyjavin4911]

@Stacy White You can connect with her on what'saap

[@stanleyjavin4911]

+150

[@stanleyjavin4911]

2273

[@stanleyjavin4911]

5657

[@astronemir]

The 90s vibe in this video is really cool, and it was educational too. Big thanks to whoever put it together and got it out there.

[@retrocloud760]

90s vibe? Where

[@spotlight1220]

Where I live they build only extra large houses because they want to keep out, first time home buyers and FHA buyers. The government needs to force areas to build a portion of smaller homes.

[@Cyrus992]

Are there regulations making it difficult?

[@andrewsmith8715]

Nah the government just needs to remove zoning ordinances and allow for high density housing. Low density suburban sprawl will not solve the housing crisis.

[@trans-octopusspacealien8883]

In the cities, please. Stay away from my area!! I'm sick of city folk moving here in endless droves, buying up existing houses or demanding new ones be built. We shouldn't have to tear down woods just so have more boring single family homes!

[@Cyrus992]

@@techtutorvideos yet the family unit has collapsed

[@buckeyebeliever3397]

As a construction manager, I can say it’s absolutely true that not nearly enough young people go into the trades. Thank God for all the good men coming up from Mexico, Columbia, and Venezuela because the entire construction industry of the south would grind to a halt without them. We need more electricians, plumbers, HVAC professionals, etc and fewer “social media influencers”.

[@MrKongatthegates]

I believe in the free market. White kids are rich and spoiled. You are going to have to pay them more to do boring, hard work

[@lokiwhacker]

You should go to jail for hiring illegals over Americans. No wonder new generation don't want to be paid a pittance.

[@Jewel_Screaming_Chango8387]

Amen i agree

[@thtadventureguy4048]

You meant cheap labor. People from outside the US will accept make $13/hr and you will love to pay that as far as you make tons of money. People here knows the value of living, but you won't pay them $20/hr

[@Jewel_Screaming_Chango8387]

@@thtadventureguy4048 that’s been long debunked I’ve worked in places where they’ve offered up to 22an hr And American young guys don’t wana work in those areas o in the heat, cold o sun There’s very few that do and as time progresses most wana be social media influencers

[@johnthompson7548]

This supply chain “shortage” is just an excuse now.

[@alexjones7845]

Don't forget all of the local regulations, permit costs, and engineering study requirements that can easily add $30 to $50k to the cost of a new house. Higher costs prices out some people or companies that would build at lower prices.

[@Quantum-]

They haven't built houses fast enough in 40 years. Market control is the biggest factor. As soon as supply is higher than demand, the market floods and prices fall. So they keep supply lower than demand so they can falsely inflate the market.

[@damianm-nordhorn116]

First step: Get rid of single-family home zoning. Less sprawl leads to less infrastructure needed (roads, pipes, power lines etc.) and multi-family/party housing needs less construction material per capita and is more energy efficient regarding heating and cooling.

[@greenmachine5600]

Absolutely correct. Great point. Too bad there are so many nimbys and ignorant people, as well as zoning laws which stop the building of more efficient denser housing.

[@A99399939]

@@greenmachine5600 when people“s house is worth a lot of money they will do what they can to keep supplies low and housing price high

[@infantebenji]

@@A99399939 you right and when you have bank and local politicians backing homeowners instead of everyone its a recipe for a disaster SHAME that the US come to this

[@greenmachine5600]

@@A99399939 yep.

[@wilsonjudson1650]

The wisest thing that should be on every wise individual's list is to invest in different stream of income and don't depend on the government to bring in money especially now the pandemic is hitting the economy

[@jamesmaduabuchi6100]

you are definitely right , waiting on the government is a big waste

[@wilsonjudson1650]

Investments are the stepping Stones to success especially if you been guided by a professional

[@jessicamamikina7648]

Investing is good but investing in the right thing is the actual key to success . who is your pro ?

[@wilsonjudson1650]

There are so many investment out there but if profits must be considered then not all investments are good to go into.

[@wilsonjudson1650]

i trade with TERESA JENSEN WHITE

[@MustangsTrainsMowers]

Try building some more starter houses for people who can’t afford a $300,000 house or don’t want or need a big house. Some cities and counties won’t allow the permits for a small house because it would bring In less taxes.

[@tiffanyisaacson5497]

I just paid around that price for 1,800 sqft home 2 beds 1 bath no acerage it's on a lot. Sadly Starter homes don't exist anymore do to inflation and the housing market being good at the moment starter homes are in the$ 200,000 range in Missouri they have gone up.

[@ianollmann9393]

What is missing from this description is why it is so CO2 intensive. When the limestone is heated to make clinker, it releases CO2. So, it isn't just the energy intensive heating process that is making CO2, the big problem is the chemistry itself releases CO2. Steel is in a similar boat. So, to fix cement, we have to actually come up with new materials or at least new ways to make cement without resorting to cheap carbon intensive inputs like limestone.

[@jjc6530]

Not just this. Everything in the US seems to be falling apart.

[@Robert-tc3yr]

This question of not being able to build houses fast enough is only related to interest rates. With low rates, people will naturally want to buy. . This forces higher prices over time. With higher interest rates enough capacity is finally back to the point of making speculation stop these wild swings.

[@Randomdive]

This issue has cemented itself as a concrete example of how fragile the modern world really is.

[@jsgdhsiabjdvsvdu2937]

Get out.

[@thefirsttrillionaire2925]

Patrick Star: “BOO!” 👎🏽

[@Eyes0penNoFear]

That's a rock solid comment right there.

[@xbaker3868]

I think we’re constructing the foundation of a solid revelation here.

[@y.r.9401]

Great use of the word;) Indeed.

[@Jragron]

This is the FIRST news video I’ve seen that mentioned how concrete absorbs co2 as it sets

[@kfl611]

How much co2 does it take to make? What is the offset, between production and use?

[@MrKongatthegates]

I heard concrete emitts alot of C02

[@spacetoast7783]

@@MrKongatthegates during production, not while it settles

[@harenterberge2632]

More zoning for medium density housing, instead of single family housing would help a lot. Building and infrastructure become much more efficient that way

[@MerkleAkrunphleuphle]

100%% PREACH IT

[@harenterberge2632]

@Wild Flower when you have row houses, you still have your own garden with room too grow some vegetables. Often it is not cities, but HOAs that stand in the way of vegetable gardens, and raising chickens. Anyhow I am not saying every building area should be middle density, but more than today would be a good thing.

[@gnomechump-stiny7128]

***with retail space on bottom.

[@KP-us1ld]

Nimbyism gets in the way. We have a massive homeless problem and no one cares because then they would be inconvenienced.

[@harenterberge2632]

@@gnomechump-stiny7128 medium density must not mean Appartment blocks. It can also be row houses. These have many of the benefits of single family houses, (your own entrance, your own front and back garden) but do not waste so much space, material and energy .

[@dvdragon]

We don't need building materials anymore. The entire economy can run off of memes, Onlyfans accounts, over leveraged commercial real estate and NFTs. /s

[@g.g.babalina4909]

Its because people dont knoow how to listen to everything before they give an opinion anymore these days.

[@Iquey]

I'm so grateful for that /s

[@hooky84]

Thanks. Very insightful video. I'm currently building a house which unfortunately is plagued with delays. However this video really throws more light on the matter and challenges faced by the building industry.

[@brucesummers7448]

The problem in large part is that houses are still being built the way they were in 1890, stick by stick with zero automation on the job site. The nation's building codes restrict construction practices and drive up costs as a result. The skilled labor shortage is the result of anti-union efforts as it is the unions that have had apprenticeship programs to train new workers. The major home building companies do not want to invest in worker training and then blame others for the end result.

[@arlequin241]

Not everyone but a substantial amount of young people would embrace the smaller cheaper house and apartment life styles similar in Japan.

[@Iquey]

I could easily live in a 400 sqft house. As long as it had a bathroom, shower/bath, kitchenette, and washing machine/dryer. The US should make more small appliances like washer-dryers for singles that are the size of a 20 gal bucket instead of the stansalone-home sized goliaths, meant for families in a home of of 3-7 people, up to three generations. Just MAKE THE RENT LESS THAN 1/3 OF MY DAMN INCOME.

[@stateofopportunity1286]

*vomits*

[@shawncrabtree7000]

@@Iquey Move to the area where you afford, NOT where you wanna love. Problem solved.

[@moniquefleming3738]

I lived in Japan. The housing is too small, cramped, no privacy. Just like NYC, and other major US cities. No thanks. It's great for people who love city living, but not for those who don't.

[@zuzanazuscinova5209]

​@@moniquefleming3738yeah it sounds pretty awful

[@-Bloomingtales]

Time to turn those business units that companies are no longer leasing into apartments…. We’re obsessed with sprawling out when you can build within and increase cohousing opportunities that are actually affordable. And let’s not forget to mention that some states haven’t legalized owning tiny homes and you have to find land to build modular homes on. We don’t as much cement when we can build Cobb houses and earth bag houses. It’s really time to shift to other alternatives I swear. There’s no shortage of housing we’re just not thinking outside the box…

[@MrKongatthegates]

You cant get a mortgage if you house isnt up to zoning and code. And you cant collect taxes on an illegal shack. Maybe there are too many rules

[@Tia-ls3le]

Are those homes safe? Even wooden houses dont last long.

[@ThisDique]

Co-housing just sounds like a cheap way to force people into living spaces that normalize a lack of privacy.

[@btccoins5514]

2:22 "millennials buy their first homes", what the hell is she smoking? We can't even AFFORD rent

[@Striker50_]

They always reference the 40 year old millennial, the rest of us that are younger are fuuuuuuuuuuukd

[@FS-qk5uq]

@@Striker50_ at this point I think they might be calling gen x millennials 😐

[@Jewel_Screaming_Chango8387]

True idk anyone around my age younger o older who’s bought en their first home besides me everyone I know who owns a home is middle aged o elderly I bought mines at 26 Am 30 Now but just since then cost of buying homes and rent has jumped

[@paulblichmann2791]

Some married couples where both work professional jobs can just barely get into a crackerbox house. So there's some.

[@seerking]

hahaha ya we millennials are broke bitter jokes. Im starting to just accept life is going to be hard forever, Get use to being poor and embrace the struggle. The world as a whole is going to need to soon embrace being poor. Its all collapsing, They told me i needed to go to college to get a good job. im looking at all my millennial brothers and sisters and see they can pay off their college debt and cant get a good job ending up empty handed. Im here shaking my head, im glad i didnt fall for that one but their really isnt anything anyone can do its all broken and going down.

[@jesuschrist8]

Here's my take on what caused the 2008 financial crisis - construction material prices shoot up due to shortages caused by building boom in Dubai, Olympics in China as well as loose mortgage credit in the US. Factories expand capacity to produce more cement, steel, and paint to meet demand. Costs of homes go up as a result of building materials going up. Homes became too expensive that they couldn't be sold. Pre-sold condominiums can't be finished within cost. And then the Olympics related constructions finished. Construction material prices went down. It is now cheaper to build a new home than to buy the expensive homes built when materials were high. Home inventories remain unsold as buyers opt for new so developers try to unload their home inventories at a lower price. This led to property prices going down which affected mortgage assets of banks. The rest is history.

[@MrKongatthegates]

Oil hit 147 dollars a barrel that year. At the peak of a housing bubble. The bubble popped. Houses went down 40% across the board. Millions of construction workers were unemployed. Unemploment hit 11 percent. The rest is history.

[@carrieullrich5059]

The fact that they gave millions of families variable interest rate mortgages that doubled in monthly prices was definitely the problem.

[@calebmillbrand1176]

Successful people don't become that way overnight. What most people see at a glance wealth, a great career, purpose is the result of hard work🤑🤑

[@mrs.LisaMarieMurphy8727]

Investments is the stepping-stone. To success, Investing is what Build Wealth💯💯👊👊

[@WilliamReynolds887]

Well I must say people are scared because they are so many unprofessional brokers out there.

[@Guillermo535]

The best investment i can do right now, is investing on forex and crypto market though stocks are good but ever since i swapped to crypto market, I've seen so much difference with Mrs Theresa Walton, Thank you ma'am you are the best💓💓

[@marcusmller7132]

So you guys know her too?...Wow she made me have my own house and car.She is awesome 👌

[@Guillermo535]

My first investment with Mrs Theresa gave me profit of over $45,405 US dollars and ever since then she has never failed to deliver and I can even say she is the most sincere broker I have known

[@seanthe100]

We have enough homes. The problem is we have many 4 and 5 bedroom homes especially in California with only two people living in them.

[@soumitrapoddar3162]

It's funny how people have started commenting on a 40 minute documentry when it's not been even half an hour since the video has been uploaded 😂😂😂 PS: CNBC always choses such interesting topics for their videos ...I mean they are just wow

[@Striker50_]

This content is from October

[@Iquey]

Recommendations algorithm

[@Student0Toucher]

All they do is America is bad at this America cant do this good lol literally never anything good and its always biased

[@soumitrapoddar3162]

@@Student0Toucher precisely

[@Lena-vw6ye]

@@Student0Toucher It's infrastructure issues. And yes, US does have a lot of infrastructure issues. Don't believe me? Lick the floor of the New York Train Station, and tell me you don't feel worse than if you had covid.

[@warthog473]

Maybe I'm old school, but every time she says "has fell" I want to scream. It's HAS FALLEN!

[@Theoryofcatsndogs]

The most conductive metal is silver, copper is second, gold is third and aluminum is 4th. The investment guy should say the most conductive cheap metal is copper.

[@tommycorbet]

Remember the "push" for Aluminum wiring, siding, etc. How about the Polybutylene craze? Real question, can you blend copper and silver together? 🤔

[@Theoryofcatsndogs]

@@tommycorbet yes, silver and copper can blend together. "The best-known copper-silver alloy is sterling, which is 92.5 percent silver and 7.5 percent copper." But people mostly use silver plated copper wire.

[@Firestorm637]

Printing money(15 trillion in 2 years, WW2 cost 5 trillion)caused inflation, covid, and paying people to stay home while still buying things when production has stopped. This caused then caused supply chain problems

[@victorgay510]

I totally agree with you. I work for home depot and literally EVERY THING WE SELL ARE UP ABOUT 13% It's not only metals also cement , shingles , wood etc you name it you got it

[@800_k_7]

With the reality of a growing cost of living and the increase of inflation, one can assume that everything Looks very bad for the average person. These political retoric and confrontation among empire will lead us to the grave!

[@TotalGrowthInvesting]

Fantastic presentation, thanks so much!

[@Iquey]

I think more places should do cement recycling. There are a lot of abandoned strip malls with no buyers for the high leases of Freddy landlords on dead/low traffic towns. Depave, demolish, plant gardens, make natural parklands. Move the unused cement to the demand side.

[@freakinfrugal5268]

See I would have thought disposable diapers - never would have thought of concrete as NUMBER ONE! Love learning new stuff as I fold laundry and iron the clothes.

[@TheBlumann]

yeah, I too, enjoy learning stuff while knocking out some work.

[@manmeetworld]

I'm pounding in a silt fence, getting my concrete next week.

[@mechanismmalfunction3822]

If you really want to learn something look into agenda 21&2030 the great reset. This was ALL by design.

[@kyleegloff5646]

Will Smith said love is the only foundation we need.

[@freakinfrugal5268]

@@manmeetworld silt fence? Is this a Mississippi River situation?

[@felixfrost1564]

first and foremost copper isn't the best electric conductor known to physics.. its actually silver but because silver is a byproduct it tends to be more expensive by a lot.. Id like to rant on but feeling a bit lazy atm cuz this doesn't tell the whole story

[@davidbeppler3032]

No EV has been built using silver wiring in the motor... wonder why? It is $270 a pound... an electric motor in a Tesla uses about 66lbs of copper per car. So just $18k in silver per car. They should do that. Talk about recycled metals... every Tesla would be recycled. Every time! It would only increase prices by about $12k per car. It would also reduce weight and increase resale value.

[@TheJasonbail]

@@davidbeppler3032 Silver is used for contacts usually not the whole insulated wire because silver is less prone to corrosion than copper

[@GunnarsGames]

The best electrical conductor is a superconductor, not silver.

[@davidbeppler3032]

@@GunnarsGames Great. What is the superconductor made of?

[@donnaallgaier-lamberti3933]

Building is going CRAZY here in SW Michigan/Holland, MI. And yet housing is in terrible shortage. The demand for middle class home is very high and the home shortage is being felt. The tradesmen for home building (plumbers/electricians etc.) are very hard to find and are in high demand. Those with money are building but those without much money can't even find affordable apartments to live in. Where my son lives in Portland, Oregon there is no more land to build on. Not enough homes is a mix of various issues.

[@pebblepod30]

It is a very big problem that in the vast majority of America, it is forbidden to build anything other than single detached housing. See City Beautiful for more info.

[@HAGA7793]

What do you want to build ?

[@douglei4413]

@@HAGA7793 a high rise building on every block

[@stevenismart]

A 3-4 story building with a store at the bottom. Or single home buildings with a restaurant on the first floor. The tax per acre of land will be positive instead of suburbs that bleeds city money per acre

[@barcannon]

These documentaries are 🔥

[@cocolocoflow]

I am so ready to just live in the middle of no where away from peoples BS

[@cinpeace353]

You only need to turn off internet.

[@cocolocoflow]

@@hhjhj393 I got you ... I was exaggerating .. but still ... would not mind living in a place further from big cities. In Alaska people truly rely on each other for food and survival. I have lived in Chicago for 9 years and is going to the dups ... big cities attract lazy people that take advantage of the government programs without contributing ... too many factors to consider ... so yeah .. I would still like to live in the middle of nowhere ... with WIFI ina smaller community.

[@cocolocoflow]

@@cinpeace353 I need to disconnect in nature

[@thegreataynrand7210]

@@hhjhj393 You are the typical know nothing nihilistic malthusian leftist.

[@cadewhite6790]

Cali: makes a 3 story $950,000 house for a family of 3. Also Cali: THERES NOT ENOUGH HOMES!!

[@alanpinnt]

Ah, drinking water travels through concrete pipes? Where in the US is this true? Storm and drain water yes. Drinking water no.

[@suspicionofdeceit]

Maybe from the source like a giant aqueduct, but at the local level no.

[@alanpinnt]

@@suspicionofdeceit True. Forgot about those.

[@MadMan920]

You know how you get more young people into the skilled labors? Pay them the same as the tech jobs are paying.

[@constantineergius1626]

tech jobs matter more than casheirs. im sorry but they do

[@MadMan920]

@@constantineergius1626 cashiers are not skilled labor lol

[@constantineergius1626]

@@MadMan920 ik but some people want to pay them as such, im moreso a startup tech guy but heck we do need more of it lol

[@karlsracing8422]

They keep saying infrastructure bill but it shouldn't go to social programs .

[@notyourmama4166]

GREEED because contractors used covid-19 and "shortages" as an excuse to jack prices up way high and even though their costs go down they wont lower theirs. in my medium sized city I have 2. home depots 2. Lowes 1. major local lumber supplier with multiple locations Not once between 2019-2022 were any of them ever out of a certain type of wood. the cost to build a new house in my area has gone up close to 150 grand since 2020. there is no shortage of construction materials thats bull crap D.R Horton can build 3. 30+ house neighborhoods in the span of 6 months.

[@randyromano2854]

Great report. Thank you.

[@gwils7879]

Whole thing complaining that this issue is with a lack of skilled trade workers. I'd work in the trades.. but guess what? Even a union apprentice electrician doesn't make enough money to live indoors in my state, much less lead a happy life. 4 day week, benefits, decent time off, for 30 bucks an hour, I'd join any trade. With 6 day weeks for 15.75/hr, not so much.

[@Striker50_]

They always me think the Electrician making $120K a year but don't mention it took 2-4 years of school and 15 years to finally get paid that

[@JDMJACOB1]

@@Striker50_ exactly. Graduated with a BA and first job paid $80k plus ~10% annual adjustments+bonuses I make more than my blue collar fam

[@usa-empireis-dead227]

Physical labor like building houses need to be $50=Hour for any American willing to be trained and paid high fair rate from the get go!

[@natedizzle2321]

Funny how that isn’t a problem when it comes to laborers who are not a citizen of the US. All the, “they’re taking our jobs” idiots are feeling the pinch of the American citizen worker mark up. 😉

[@MrWaterbugdesign]

In many other countries they don't have the sand and gravel needed to make concrete. In the US we have plenty of sand and gravel all over most of the country. We have the factories to make Portland cement. Throughout this covid thing I've been surprised how we haven't solved these supply chain issues. That's what we were good at doing. When Powell said inflation was transitory because the issues looked to be in America's wheelhouse to solve. But we didn't step up. I get scaling back when covid first became a major problem. But why didn't we scale back up just as fast? OK demand did increase...but 1.5 years we couldn't catch up? IMO it's looking more and more like career path changes is causing these problems. Young men don't want jobs in construction, truck driving, warehouse, etc... Women never wanted these those jobs (1% of welders are female) and that attitude is spreading to men now to such a degree we don't have people to solve the problem. People are sitting at home waiting for their daily Amazon delivery, wondering why it's delayed a week instead of becoming a truck driver. Why? Maybe social media? Almost everyone now wants to appear awesome online. These jobs don't fit that. Those jobs are ridiculed. And look at dating with 90% of women looking for 6 figure income men...they reject men in those jobs. Let's face it, men work in order to attract women so it makes no sense to work in construction if it means being an outcast.

[@svetakoch1079]

Ooooooooooo

[@wesleyp3024]

i think its a huge mistake to put import tarrifs on steel because all it is is another tax on americans. these kinds of taxes, ones that move through price increases, overwhelmingly punish poorer people more than richer people. if a rich mans fridge breaks down he can replace it with a single paycheck and have tons left over. if a poor mans breaks down he uses 100% of 1-4 weeks of his paychecks to replace it and thats assuming he doesnt have any other bills, otherwise something like that could set him back for months. increasing poverty drastically isnt worth the very few jobs it creates.

[@ikeskifan]

Without import tariffs cheap low quality steel gets imported our country instead of us making our own superior quality steel think about that if you're in a high-rise

[@ninjam4stertkd]

What do you know, we push too many children and young adults to get educated and no one is left to be put in the labor to build. Gotta pay them more to draw people back to the trades.

[@aryaaswale7316]

Thats what will happen, thats how the free market works

[@BRBallin1]

We had a phase for college educated jobs now we will see a balance in blue collar and white collar jobs in terms of pay

[@yourdedcat-qr7ln]

@@aryaaswale7316 hopefully

[@aryaaswale7316]

@@yourdedcat-qr7ln it does work you can’t stop it, when labour becomes even more scarce either pay people more to entice more people to join or go out of business

[@GrandmaBev64]

I'd like to see Trade Schools make a comeback 🤠

[@austinjimenez1699]

We desperately need more density in our cities.

[@davidbeppler3032]

No roads. Until the Boring company starts building tunnels under every city and robotaxis start moving people we can't have more people in cities. Too many people, not enough roads.

[@greenmachine5600]

Density is definitely needed. But nimbys and zoning laws stop progress.

[@karenwang313]

You can use a bus or subway too you know. Lol.

[@MrKongatthegates]

High gas prices will encourage that.

[@stevenismart]

Cities are ponzi schemes that depend on constant population growth to stay functioning. Most of the skyscrapers are empty and rent is insane

[@littleredhen3354]

Lol I owned a masonry company and flat work is hot, labor intensive work. I don't blame younger generations for not wanting to do it, hell, I didn't even like taking flat work jobs. Work in scrap metal industry now and steel and copper prices just dropped significantly. Our scrap is exported to China and with them on lockdown the labor shortage hit the market.

[@twbishop]

@13:38 silver and gold are better conductors, but they are more expensive per g and more rare. silver and copper (and maybe gold) can tarnish/rust, reducing their conductivity, but in a (relatively) pure state Ag is better than Cu in conductivity.

[@keremcagintv]

Solutions to bring princes back to early 2010s or early 2000s levels: Increase interest rates, get the Fed to stop printing money endlessly, eliminate uncessary regulations that prevent building, realtors definitely should prohibit corporations from buying houses, get rid of burdensome tariffs on building materials, and ramp up domestic production on building materials, too. Then we will be able to see easing of prices!

[@alexmontrey5372]

Being of age and how to manage the sequence of returns in those early periods is what seems quite scary in the current market. The market is never a loser in the twenty year cycle, but the 2000s decade scenario scares me and could really disrupt my retirement. When you're no longer accumulating but withdrawing, it's hard to be anything but cautious.

[@jachikeonwuka3824]

Some investors look to their investments as a source of income while others use it as a means to grow or preserve their wealth.

[@steceymorgan814]

For now, investors getting started can feel overwhelming. Risk loom large and complicated, unfamiliar financial jargons can be intimidating.

[@emmanuelchikwendu5492]

@@steceymorgan814 Apparently that's true, I agree. It is mostly disastrous for newbies or anyone who doesn't adhere to a well thought-out strategy and over all, a professional broker.

[@stevematthews1105]

@@emmanuelchikwendu5492 This is absolutely where online professional brokers can come in handy... Those that offer intuitive platforms and plenty of educational resources, and also guide you through your early investing days.

[@stevematthews1105]

A good broker is much more than a venue to execute trades. Look for a broker that can assist you with quality research and educational materials, to aid your development as an investor and also help you make winning decisions in the market.

[@AlexRodriguez-ue1xc]

Idk why they keep saying a shortage on houses🤷 when people can't pay they rent n mortgages!!! People lose they house n are renting now, people that rented are on the streets or w family members.

[@usa-empireis-dead227]

Wage shortage! NOT labor shortage! Pay livable wages to ALL Americans $30/Hour and up as the catch up phase!

[@flyyyjr]

“…Exactly, tired of the only thing going up except cost of living wages…living wages are slower than molasses when needing too be hiked up immensely STAT”!!! G-MOMMIE