Please write about the drivers in the Green housing industry including baby-boomers needs, single-family homes (largest market). Bullet some key points/drivers related to industry efficiency like new technologies, laws, organizations, incentives, etc.
The green housing industry is currently experiencing what some industry insiders consider an exponential growth rate. Despite a sluggish economy and an overall volatile housing market, the green housing industry appears to be immune to the ills of the current housing industry. Homes being built under a "green" housing plan have rose from 2% in 2005 to over 17% just six years later (Bredenberg, 2012). The green industry itself was once ostracized as being "tree huggers" and left-wing environmentalists. However, as more people accept the human impacts on the environment and our eco-system, green home building is taking hold across the nation.
In considering the home building industry, there is no greater genre driving the market right now than baby-boomers. Baby-boomers are becoming a large segment of the home buying and home-building market. Some experts estimate that 70% of all baby-boomers will build or purchase a new home as they seek to live in the best quality home in their life, as they relax into retirement (Nackman, 2014). Baby-boomers are a committed group. In general, they are regarded as hard working and family oriented. The needs of baby-boomers as a home buying consumer are simple; they want a functional home that is energy efficient, technologically advanced, safe for the environment, and a home that they feel great about passing onto their children. The green homebuilding industry is poised to capitalize on each of these needs.
As more baby-boomers enter into retirement, the group is also enjoying becoming grandparents at a rising rate. The joys of being a grandparent will likely see the baby-boomers factor safety as a consideration factor when building a new home. The green home building industry can capitalize on this factor. Green homes are typically built with safer, more durable materials. This component of the construction of a green house can serve to bolster the green home buying experience for the baby-boomer.
Baby-boomers are not only a burgeoning group of grandparents, but many are also caring for their senior parents. There are many baby-boomers that have opted to move their aging parents into their homes to care for them, as opposed to placing them in nursing homes or assisted living facilities. This need represents another key opportunity for the green home building industry. Green homebuilders need to stress the quality, durability, and safety of the materials used to build a green home. The baby-boomer is most likely a seasoned parent that has now become an empty nester, and they are taking on the responsibilities of caring for their aging parents (Freeman, 2014).
This solution provides the student with a summary of drivers in the green housing construction industry. This solution highlights driving forces such as baby boomers needs, incentives, and factors that are contributing to the green housing industry boom.