Modular homes were hailed as a solution to housing crises. But the sector is now struggling to scale [CNBC]
LEGAL&GENL GRP PLC S/ADR (LGGNY)
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Source: CNBC
Modern tech-enabled versions of modular housing promise a faster, more sustainable solution to housing crises, according to experts. But the sector has seen better adoption in some countries compared to others where it has failed to scale — such as the U.K. Prefabrication has existed in many forms, from the defenses used by William the Conqueror in his invasion of England in 1066 to Sears' mail-order homes in the U.S. in the early 1900s. Fast forward a century and entire modules can be built in factories to then be combined to create houses in just weeks . Speed is just one advantage that modular homes offer compared with traditional construction, a factor which is key in countries such as the U.K. which continues to face shortages of affordable housing. The fact that modular housing is also made in a controlled factory environment means less waste is generated, while also resulting in more energy-efficient homes . Andrew Shepherd, managing director at British modular developer
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