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Show New Homes Month Home starts an imp ortan t economic key Most American dream about owning their home--a home like the one in which they grew up. Home builders across the country are working to keep housing available and make it affordable for all Americans so they can enjoy the quality of life they've always dreamed of. April is New Homes Montha time to recognize the American dream and the people who work to keep it alive. Home building is one of the biggest sectors of the American : economy. In fact, some people refer to it as the "engine that drives the economy," because so many jobs are dependent upon it. An increase in-crease in housing production can drive the nation toward prosperity, while a slowdown in home building can send the economy into a I recession. The construction of 1,000 single-family homes generates 1,759 : jobs in construction and construction-related industries for one year. - The building of those homes generates $45.7 million in wages; $18.8 : million in combined federal, state and local tax revenues; and $1.6 million in local property taxes during the first year and $19 million in - local property taxes over a 20-year period (assuming a five percent - annual increase in property values). Despite its enormous impact on the economy, the home building industry is still characterized mostly by small businesses. Home - building is a mixture of businesses of all sizes-the 400 largest " builders built less than a quarter of the homes in the U.S. last year. ; The majority of American home builders operate small businesses which build fewer than 25 homes a year. As with many small businesses, many home building firms are ; family businesses. Many of today's builders are the children of peo- pie who started home building businesses. Others began in one of the ". construction trades and then ventured out on their own. |
