Fracking’s Loss = Housing’s Gain (Specifically, New Construction)

Back from North Dakota

One of the biggest constraints on new construction the last several years has been a shortage of skilled labor.

Thanks to the fracking boom, thousands of workers once employed in home construction decamped for greener (blacker?) pastures elsewhere.

With the now-accelerating bust in energy prices, that exodus might now reasonably be expected to reverse.

Which is good news for the housing market, and new construction in particular.

See also, “North Dakota Boom, Twin Cities Ripples”; $16 an Hour at McDonald’s; “Hanging Sheet Rock for $90k a Year“; and “Blink and You Missed It: What That $1.4M New Home Just Jumped to $1.7M.”