California desperately needs housing, but the state won’t be part of the next big wave of affordable homebuilding. Wells Fargo, through its “Initiative 99,” is backing projects designed to build homes for under $99,000 using giant 3D printers developed by tech company ICON.
Wells Fargo says the goal is to create durable, energy-efficient homes at a fraction of traditional building costs. Texas has become the biggest testing ground because regulators there have already approved several 3D-printed housing developments. Why Texas and not California?
• Texas’ Population growth
• Faster permitting compared to California
• Lower construction costs in Lone Star State
• Business-friendly climate in Texas
Supporters say 3D printing could revolutionize affordable housing in America. California, however, may end up revolutionizing something else first: losing another major industry to Texas.
