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Congress explores green home loans
A green house amid gray houses
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Renita Jablonski: Today Congress takes a look at a bill that would make loans for green homes and energy-efficient remodeling projects more affordable.
From the Marketplace Sustainability Desk, Sam Eaton reports.
Sam Eaton: Throughout the housing boom, green building was often brushed aside as too costly. But with home sales in a rut, energy efficient housing could now offer a bright spot. The House Financial Services Committee is holding a hearing today on boosting the number of government-backed, low-interest loans for green homes and remodels.
Sustainable housing advocate Stockton Williams says the legislation would not only stimulate the housing market, it would help consumers.
Stockton Williams: Green homes can save them money. And that's important at a time when gas is $4 a gallon and higher and home utility rates are skyrocketing in many parts of the country.
Stockton says federal leadership is essential in making green building affordable to the masses.
But not too much leadership, warns the National Association of Home Builders. The trade group urges Congress to stay away from any mandatory green building rules. It says consumer demand for energy efficient homes has been slow to take off.
I'm Sam Eaton for Marketplace.
I am trying to buy a home in Columbus NY . The house has 3 windmills , 10 solar panels with inverters for a beautiful custom built 2003 home . I have spent a lot of money on appraissal, inspections ,Insurance, paid off a vehicle , sold most of my belongings to move to NY from Florida , and two days before closing Sure Point Lending is now deciding not to finalize my loan due to the fact the house is not on the grid with NYSEC electic company. It was apparently overlooked by the apraisser and caught in the final stage of underwriting . Is there a stipulation that SurePoint Lending can not approve the loan for this reason even though our Gov't is encouraging people to purchase energy friendly properties. Their question is, does the home have power ? The house has 60 amp service 5 bedrooms and 4 baths and powers the entire house perfectly . SurePoint is requiring I spend $23,000 to run power to a fully powered green house and pictures of the power pole hooked to the house to consider finalizing the loan . Any ideas ? thanks , Bob
Stockton Williams failed to mention that the National Association of Home Builders (NAHB) has spent the past two years on creating a consensus-driven Green Building Standard (www.nahbgreen.org) that was just submitted last month for ANSI Certification (www.ansi.org). NAHB is also offering a Certified Green Builder designation(www.nahb.org/cgpinfo) to industry professionals. I wouldn't term this as "green-hype".
Yes, I'm sure the builders enjoy the hype behind marketing their product as "green," but don't want too much oversight of whether or not it really IS green. After all, during the housing bubble, the industry wanted big govt out of it's business as so many did, but when the bubble burst, this industry held its hand out to congress for a bailout, didn't it?
