Knoxville’s housing shortage isn’t going away. One solution seems obvious: Build more homes.
But home builders face major challenges right now, including high material costs, supply delays, a labor shortage and a lack of available property.
And the squeeze is just going to get tighter: Knoxville needs approximately 40,000 more housing units by 2050 for the area’s growing population, according to Amy Brooks, executive director of Knoxville-Knox County Planning.
John Cook, president and CEO of Cook Bros. Homes and current president of the Home Builders Association of Greater Knoxville, said Brooks’ estimate sounds low compared to the demand he’s experiencing on the job.
“In the home-building world, 2021 is basically the best of times and the worst of times,” Cook told Knox News.
A study by the National Association of Realtors estimates the U.S. needs an additional 6.8 million housing units to meet demand.