Harvard's Joint Center for Housing Studies reports...

Kermit Baker, Senior Research Fellow at Harvard's Joint Center for Housing Studies announced to attendees at the Greenbuild conference in Phoenix recently that energy-efficient remodeling is the market coming to the forefront. The federal tax credits, which will play a significant role in inspiring home-owners to invest in their homes, have been in the news for several months. I just spoke with Coleen Krauss, the Director of Economic Development and Community Programs at the Vermont Office of Economic Stimulus and Recovery (there's a mouthful!). Coleen said that stimulus funds are only just now hitting the streets. Millions of dollars is about to be released in Vermont (and across the country) which is going to have a huge affect on the contracting market. The question is who is going to be ready for it? There are strings attached in order to qualify for the tax credits and grants and contractors need to understand what needs to happen in order to ensure compliance. We here at Bethel Mills are trying to stay informed in order to assist our customers. Also, organizations like Efficiency Vermont can play a significant role in helping sort this all out for contractors.

Harvard's Joint Center for Housing Studies reports that the next decade is shaping up to be strong in the renovation market. They report that over half of the 130 million-unit housing stock was built prior to the OPEC oil embargo of 1973. The "echo boomers" are entering the market and are even surpassing the number of baby boomers. Echo-boomers are more environmentally conscious than other generations and are investigating the implications of the tax credits and a down economy and coming to the clear conclusion that investing in the down economy makes the most sense. The decline in housing prices has changed homeowners' perspectives. (You can see where people are getting the best return on their investment in another of my articles...) Performance and quality are far outweighing luxury upgrades and energy management is finally getting people's attention. The echo-boomers are approaching their prime remodeling years (30s and 40s) over the next two decades which will provide an opportunity to update or existing housing stock.

Harvard's report is free and a critical read for contractors...