Can Green Developments Sell in a Recession?
A few years ago green construction condos were selling just as well as traditional condos, but not anymore, says The New York Times. Apparently in the midst of this recession, sales have seriously slumped on eco-friendly condos in New York and New Jersey, which begs the question: Does the economy trump the environment?
It seems that many buyers consider sustainability a nice “bonus” but not an essential. So when things get tight, it’s the first thing to go. Brokers for these eco-friendly buildings are trying to educate buyers by showing them the long-term benefits of going green in their home, like saving as much as a third on monthly utility bills. But it doesn’t look like we’re there yet.
What do you think? If you’re in the market for a new home (or maybe just imagine you are), would you still be willing to spend more for green construction and amenities?
Read the whole article here.