Retiring Boomers Will Leave Construction Sector in the Lurch

Even now the construction industry continues to face a severe skilled labor shortage.

By Richard Berger | April 10, 2024 at 06:14 AM

Approximately 11,000 baby boomers will retire each day this year and that figure will impact commercial real estate construction labor and increase demand for hospital visits and thus, medical office buildings.

These seniors will leave carrying unique skill sets, particularly when it comes to construction, according to John Chang, Senior Vice President, National Director of Research and Advisory Services for Marcus & Millichap.

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