We all know the real estate market has been tight on inventory – although construction has seemed to pick up and ease buyer tension, there are still labor shortages and rising costs of materials.
So, what could be a possible solution to this growing problem?
Companies are coming out of the woodwork to offer a new printing technology to help transform the way we build houses and currently see the real estate market.
Mighty Buildings, a construction technology company based in Oakland, is doing just that. They’re printing homes with a synthetic stone that the company invented, called Light Stone Material. Their printer creates 3D panels that are applied to a steel frame. Robots then add insulation and interior woodwork, while finishes that appear to look like siding or brick can be applied to the outside. Features that might be too complicated for a robot to assemble, like cabinets, air conditioning, and appliances, are than added by workers.
The company can print a 350-square foot home in under 24 hours with almost zero waste, since the printer only creates what is necessary.
Other companies in Texas and New York are following suit.
What does this mean for the wider spectrum of construction within real estate?
Experts are agreeing that we’d be looking at more of a hybrid approach when it comes to building. With the technology still being relatively new, there’s a lot to discuss in terms of where it will fall in the cycle of construction.
But the one thing many builders and real estate experts agree on: it is faster and cheaper to build – which may just help alleviate contractors’ burden as of late.
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