Rising housing prices have been a major source of inflation. Some worry that those who don't already own homes may end up priced out of the market for life.
But technological breakthroughs, including 3D printing, may make affordable housing easier to build and obtain.
Bankrate reports that labor can make up 50 percent of a construction project's total costs. Wages tend to trend up, particularly during periods of elevated inflation, which can increase labor costs. This can increase home prices not just when construction companies hire workers to build the home — it can also raise the cost of construction materials. Rising prices for new homes, meanwhile, can make older homes more expensive.
3D printing, however, may greatly reduce these labor costs. Some 3D printers are already building homes using concrete, according to Smithsonian Magazine. Giant printers can slowly pour layer after layer of concrete to construct interior and exterior walls. In fact, 3D printers can currently build a 1,300 square foot home in about 40 hours.
Historically, concrete hasn't been a popular material for interior walls and the like. However, concrete, which is easy for 3D printers to work with, has excellent insulation properties and is also very durable. This could increase longevity and reduce heating and cooling costs. Right now, affordable housing is a pipe dream for many, but technological advancements could make more dreams come true.
