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3D-printed Homes. What They are and Will They Replace Traditional Houses?
Instead of building a house, we can now use a 3D-printer to create one
Housing costs have been slowly increasing, making it more difficult for those wishing to become homeowners. According to Fred.Stlouisfed.org, the average house cost in the United States in 1980 was $71,600, which jumped to $387,200 in 2020. The average hourly wage has also been increasing: it was at $7 in 1980, going up to $24 in 2020. Based on this data, it’s evident the house prices are growing faster than the population’s earning potential: houses went up in price by 541%, while the wages increased only by 342%.
More people are renting right now compared to the number of those who own properties. Propertymanagement.com reports there are more renters today than ever in the last 50 years. Despite Americans’ desire to own homes, many individuals have no choice but to consider renting as opposed to buying.
Millennials have come under fire for buying fewer homes compared to the previous generation. While 45% of baby boomers chose to become homeowners, only 37% Millennials decided to own a home, according to the Urban.org. But regardless of the generation, purchasing a home poses challenges to everyone, especially to low- and middle-class families. As a result, people are forced to consider alternatives…
