5.1.24 – thebesttimes.com
The Great Recession left a lasting impact on the American economy, especially in the housing market. From 2007 to 2010, the subprime mortgage crisis led to the widespread devaluation of residential properties and discouraged builders from investing in new housing construction. As a consequence, the number of new housing construction starts plummeted, and the repercussions of the recession continue to be felt in the construction industry to this day.
Despite these adversities, construction workers remain a vital component of the American workforce, driving economic growth through their work in essential sectors. Their efforts serve as a foundation for initiatives aimed at expanding the supply of residential housing and bolstering a waning American manufacturing industry. By building the houses, buildings, and infrastructure necessary to achieve these goals, construction workers make significant contributions to the country’s economic development.