Green Trends in the Housing Market

n 2007, construction of "green" housing was up 30% over 2006, and it appears that the affordable-housing sector is leading the way. The National Association of Home Builders (NAHB) is now saying that 2007 may have been a turning point in the green-home market. They are predicting that by the end of 2010 5%-10% of new home construction will be green. It will be a $38 billion market, they project.

The experts are predicting that the effect will be responded to by architects, contractors and suppliers, who will soon begin to shift their focus toward green design, which will only boost the momentum further. This upsurge in the affordable housing market is partially fueled by some environmentalists as well as some forward-thinking investors who stepped up to help finance this green movement. Prices for going green have come down as demand has increased. One other factor has helped fuel the green trend---the problem of mold in houses that have too much insulation. The improvements in ventilation technology as a result of the highly-publicized mold problems have also begun to appear in more modest homes.

Enterprise and the U.S. Green Building Council have joined hands to promote such things as education and training for building green. They are also working on ways to cut the costs of green affordable housing. Bank of America and the Home Depot Foundation have also been providing business leadership, financing, technical assistance and other resources to help advance the green trend.

There is now an interest in developing empirical evidence to show that green building is financially feasible and beneficial with the purpose of convincing mainstream financial institutions that they should be willing to get behind green affordable developments. It appears that the tide is turning toward green housing not just because it's the right thing but because it's also the smart thing. By building green, many of the environmental problems that plague society can be solved in the short term, and those involved in the movement claim that it just makes sense to take this direction toward meeting housing needs in the 21st century.

Some architects are getting on board. In custom-designed homes, the home buyer needs to ask for these features, but the architects can provide an analysis to determine which features are good investments, whether in new or renovated homes. In most cities, fuel-conserving homes qualify for energy-efficient mortgages.