Photo by Tony Xavier on Unsplash
In an article written by Laura Cowan (Apr 20, 2023) for Inhabitat
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At a time when housing is drastically under-built due to construction costs and an uncertain real estate market, it’s more important than ever to create housing that is sustainable to mitigate climate change, all without breaking the bank.
Sustainable housing, meanwhile, is growing slowly, with new projects approved in a number of locations for neighborhoods built with geothermal in Texas. Additionally, there are solar-powered housing projects slated for locations such as Ann Arbor, Michigan, where local municipalities are working with developers to find ways to make affordable housing sustainable as well.
The risk to developers is this: if they build sustainable housing, can anyone afford it with materials costs fluctuating? The cost of lumber has come back down in 2023, but now the prices for electrical wiring, PVC pipe and other materials needed for housing have risen sharply. It’s hard for builders to predict costs and avoid bankruptcy in this scenario.
