NHPF Industry Report
Thousands of high-paying building jobs go unfilled. Nearly 90% of construction companies have trouble finding qualified workers , reports the Associated General Contractors of America. Baby boomers remember “Shop” and “Home Economics” classes in high school where training for a career in skilled labor began and could begin again. A reinvestment in skills training as early as middle school is being advocated to address this “labor mismatch.” The Rework America Alliance highlights the merits of skills-based, rather than credential- based, hiring—tapping into the 106 million workers who have built capabilities through experience yet lack a four-year college degree. This skills-based approach should complement apprenticeships that bring younger students and vocational talent into the industry earlier. Employers need to partner with local technical schools, providing scholarships, instructors, and apprentice programs. This path could also work with a range of nontraditional sources of talent, including veteran-transition programs, formerly incarcerated individuals, and others. Moreover, identifying and attracting talent from outside the typical construction industry paths will help to increase the diversity of its workforce, which as of today is 88% white and 89% male.
Incorporate the Best of AI and Other Tech Advances
“Artificial intelligence is taking a more prominent role [in affordable housing], and we can leverage it to create more comprehensive real- time data to improve our operating systems and procedures.” —DAVID A. NORTHERN SR., HOUSTON HOUSING AUTHORITY PRESIDENT & CEO Developers are using AI programs like ChatGPT or Bob.AI with various assistance programs to expedite the application and borrowing processes. Many report trying out these services with Asset Management and Resident Services Coordinators to scan for health and community resources. Many in our industry use AI-assisted platforms like Grammarly to ensure writing is error- and plagiarism-free. Some use ChatGPT to kickstart grant proposals, outlines for Powerpoint presentations, award entries and other repetitive writing. We are enthusiastic about time- and labor-saving AI tools that reduce resident burden by offering such a reusable, single-fee application, powered by real-time data and that produce an “ability to pay” score from factors including assets, income, and previous rental history. This AI promotes more inclusive scoring giving property managers a quick and accurate financial profile of a prospective renter, more equitably and with less bias—especially valuable for those states where vouchers are often routinely denied. Other technology advances paving the way for future affordable housing include Wemimo Abbey’s Esusu Inc. which taps into on-time rental payments typically excluded from credit reports (unlike missed rental payments which are reported to credit bureaus). Esusu addresses this disparity that leaves some 45 million credit-invisible renters without the benefits accrued to homeowners who pay mortgages. Esusu calculates that rent reporting could unlock a potential $4.1 trillion, generating hundreds of millions in tax revenue and significantly contributing to the GDP.
10 • THE NHP FOUNDATION 2023 SYMPOSIUM: INDUSTRY REPORT
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