Amid the gloom of the housing market downturn, the green building sector is one bright spot, according to panelists who spoke on green building trends in housing construction at Standard & Poor's housing summit Thursday in New York.
Harvey Bernstein, vice president, industry insights & alliances, McGraw-Hill Construction, noted that in 2010, a third of all commercial real estate construction was green, as was 16% of residential construction. The share of green construction is only likely to go up in the future, he said.
Panelists at a Standard & Poor’s housing summit in New York say the mortgage tax deduction is a key component to the housing industry.
Chuck Robida, Experian chief scientist, said that he expects that it will be difficult for housing markets to recover without the mortgage interest tax deduction, especially in larger MSAs.
While other people expect home prices to bounce along the bottom for a while without going up much, Robert Shiller is inclined to be more pessimistic.
There is room for home prices to decline another 10% to 25% in real terms over the next five years, according to Shiller.
The first thing you notice about New American Funding's Rick and Patty Arvielo is how much they like each other. That might seem like a foregone conclusion when you meet a married couple, but when that couple also runs an incredibly successful business together, I imagine it could get complicated. Read on to find out more about how this successful couple manages their life, and business, together.
For the first time since 1981, our industry is experiencing a rising interest rate environment. Some people may assume that the current market shift means their business will take a downward turn from which they will never recover. I don’t buy it. The way I see it, challenging times force us to refine our processes and practices.