Chicago Relocation

The Future of Green

August 11, 2014

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John D’Ambrogio

Some comments from Baird & Warner‘s Sean Hyland

The green initiative has become a major trend in America over the past several years.  Everyone wants to reduce their carbon footprint and live healthier and do things that involve the word “sustainable.”  As a major trend in the country, we have seen this initiative affect many different areas of life, including the real estate industry.

We have already experienced the infiltration of certain green products in our living spaces and how many eco-friendly homes have popped up in the market.  Green products and houses attempt to lessen the hazardous effects that humans may have on the environment and create a healthier lifestyle for all.  As people become more knowledgeable and careful with the environment, we will continue to see eco-friendly ideas as major trends of the future.

But what will those trends lead into?  Currently we are working toward a greener and more environmentally friendly lifestyle, but what is the ultimate goal of these practices?  Many would say we want to achieve true sustainability, where we live harmoniously with the environment and are able to benefit from nature without destroying it, allowing for future generations to do the same.  The green initiative helps us do just that.

In terms of real estate and the housing market, this means that we are trending towards greener living arrangements, AKA eco-cities.  An eco-city is an entire city that is designed to function smoothly for human life while, at the same time, producing no negative externalities for the environment.  There are already many eco-cities in existence (with Tianjin, China being the largest) and others in still in the planning stages.  Chicago is currently not considered an eco-city, but it has become considerably more eco-friendly.  However, as the green trends continue, we can expect more eco-cities to rise up.

The more popular these cities become, the higher the demand will be for people to build and purchase these homes.  As the market becomes more densely inhabited by green homes and eco-cities, it may be who of you to better understand the ins and outs of the green market.   And if you find yourself on the buying end of an eco-city property, don’t think that these homes are just for hippies trying to become one with nature.  These houses offer many benefits for humans too.