In an industry where trends come and go with the seasons, all real estate classes are now taking strides with attempting to reduce climate change issues.
In the U.S. alone, roughly $1.3 trillion worth of real estate is at a high or extremely high risk.
Despite consumers’ mixed feelings on climate change, we are seeing huge spikes in how we are using energy. The consumer today has evolved- the way we get from place to place and the way we live in our homes.
The Green New Deal advises that up to $1 trillion of infrastructure and coastal real estate could be damaged by global warming by 2050
Currently, residential and commercial asset classes account for 40% of the United States’ carbon monoxide emissions.
Is the green new deal a hoax, or a conspiracy? How does this deal coincide with real estate? Better yet, will the green new deal create fear or excitement?
The Green New Deal advises that up to $1 trillion of infrastructure and coastal real estate could be damaged by global warming by 2050.
Many investors are taking notes and are looking into alternative options. Such options may be as simple as changes to properties and green features. Moreover, building improvements with new construction (plumbing, HVAC and even lumber) are being looked into as well.
Landlords are given rebates upwards of $10k or more to offset installation costs- solar panels, green products within the homes
At this point, we don’t have enough data or actual renter feedback to know for certain that renters would actually pay more rent for such appliance perks. However, given utilities, the cost of life and sheer overhead expenses, if given a chance, renters might sway more for the energy efficient products.
Public policies have been offering financial incentives (tax abatements) to landlords who solarize or are using a certain percentage of energy-efficient products for quite some time. In addition to the above incentive, Landlords are given rebates upwards of $10k or more to offset installation costs- solar panels, green products within the homes.
