Analysis of Residential Construction Industry
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The residential construction industry is a critical component of the American economy in that homes of some type are required for everyone, and the home is the single largest purchase that most consumers make. The residential construction industry provides jobs for a variety of workers of varying skills and educational levels, and serves as an indicator of how the economy as a whole is performing. At this point, the industry continues to be made up of small companies, no single one of which dominates, although recent years have seen an increase in the number of mergers and acquisitions within the industry and some builders are found in multiple geographic markets. Future expansion is likely to continue in those areas which are seen economic progress, and changes in technology are likely to result in more efficient and economical materials being used.The residential construction industry is one of the largest industries in the nation with considerable direct and indirect employment influence. The residential construction industry includes builders of single-family homes, condominiums and townhouses, apartments, and custom builders, as well as the many subcontractors who actually complete the work (Kennedy, 1996, p.á27). The majority of individuals living in the United States live in dwellings built by this industry (a small minority live in hotels while an even smaller group build their own homes), and
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Production Processes
Unlike traditional products that are finished in a factory and shipped to distribution points, homes are generally constructed on-site. Even manufactured homes, which are built in factories, must be moved to the home site where finish work is completed. Homes can be thought of as assembled in a manner similar to automobiles since the process must move forward in a specified order. Sites must be graded before framing can begin, for example, and electrical and plumbing cannot start until other building milestones are reached. Although the materials used in house construction have changed over the past century, the essential process has not.
Today, the materials that are used depend both on the type of house being built, the target market sought, and the geographic location of the home. Brick homes, which are vulnerable to earthquake, are typically not built in California for example, and manufactured homes, which are less expensive to build, are used in communities where the target market has fewer economic resources. As advances have been made in technology and manufacturing processes, changes have also been made in the materials used in home construction. Lead paint and asbestos, for example, once
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Approximate Word count = 2606
Approximate Pages = 10 (250 words per page)
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