B.C. construction industry facing a “perfect storm” for new housing builds
October 12, 2022 By Don Horne
But building more housing in British Columbia is easier said than done, as the west coast construction industry is facing a perfect storm of three factors: Labour shortages, a fragile supply chain and issues with the permitting process.
Brendon Ogmundson, chief economist for the British Columbia Real Estate Association, said that B.C. has the highest vacancy rate for construction employment in Canada.
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To further complicate the matter, BuildForce Canada is predicting that 25,000 construction workers will retire before 2027, representing 13 per cent of the labour force. To keep up with the pace of construction in the province, B.C. will need to recruit and train an estimated 27,600 workers before 2027.
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