michelle kaufmann designs

Photo by John Swain

Again this week, there was more bad news concerning the housing market: as housing prices continue to drop, the rate of inflation in the US is quickening, which puts more homeowners in an increasingly uncomfortable position. The New York Times described the problem very succinctly on Wednesday, explaining that, “houses are getting cheaper by the month. Everything else is becoming more expensive.” Now, with no end to the housing slump in sight and with our country still sliding toward recession, the Fed risks fueling inflation with every interest rate cut it announces in an effort to stimulate our anemic economy. However, one sector of the housing market that appears nearly immune from the current blight afflicting it is green homes.

The 2007 McGraw-Hill Construction SmartMarket Report on Attitudes & Preferences for Remodeling and Buying Green Homes reported that even in a chilly housing market, the demand for green homes and green home renovation will rise. The report predicted that the market for true green homes will grow to $20 billion by 2010, up from 2 billion 2005. Even in parts of the country hardest hit by the housing crisis, green housing is predicted to grow. An article in the Baltimore Sun from earlier this year reported that while the prices of homes are forecast to keep falling this year, homeowners there are willing to shell out big money for green home features and would pay up to $5,000 to green their homes.

So why is the market for green homes on the rise as the rest of the housing market crashes to the ground? The answer is that a green house offers more value than just offering shelter and being a place to call home. It also offers money saving elements such as energy efficiency, resource/materials efficiency, and water conservation as well as health benefits like better indoor air quality. As people are educated about these and other advantages of a green home, they realize that they can and should demand more from the design of their home. What this means is that green housing is becoming the new standard in the world of homebuilding, as it ought to be.

So if you’re worrying about the decreasing value of your home then you may want to consider a green renovation or even just taking simple steps to green it. You can save money on your monthly bills and help preserve the overall worth of your home!