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Green construction is still a sliver of the housing market, but it’s a fast-growing sliver. A survey by McGraw-Hill Construction and the National Association of Home Builders released yesterday says that the number of builders using environmentally sensitive construction techniques and products rose 20% last year and will rise about 30% this year.
Here’s a quote from the press release:
By 2010, the value of the residential green building marketplace is expected to boost its market share from $7.4 billion and 2 percent of housing starts last year to $19 billion-$38 billion and 5-10 percent of residential construction activity.
BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.