The large number of foreclosures in the west and southwest can be promising for green building, given that interest in environmentalism is strong in these areas, and water conservation and solar power are important to buyers.
Social (and environmental):
Socially, there is a general trend frowning upon extravagance and in favor of downsizing one's life, even for people who have jobs. But there is also greater interest in going green, whether by driving a Prius or living in a green house. The president has made green technology a core aspect of his economic development program.
Legal:
More regulation of the banking industry in the near and far future is almost inevitable. The current $700 billion dollar bailout bill also includes measures to encourage banks to lend to consumers, allowing the Security and Exchange Commission (SEC) to suspend the mark-to-market rule that forced...
"This meant that bad loans, which could not be resold in the current panic-stricken climate, had to be valued at less than their probable true worth" (Amadeo 2009). Legally, Congress is urging banks to lend more, but all the while trying to prevent excessive and risky speculation in the mortgage market with greater regulatory oversight.
Works Cited
Amadeo, Kimberly. (2009). What exactly is the bank bailout bill? About.com http://useconomy.about.com/od/criticalssues/a/govt_bailout.htm
Map strategic drivers. (2009). Third Sector Foresight. Retrieved March 27, 2009.
http://www.3s4.org.uk/how-to/map-strategic-drivers
Pockets of strength push U.S. housing market rebound. (2009, March 27). Reuters. Retrieved March 27, 2009 at http://www.reuters.com/article/newsOne/idUSTRE52Q6AC20090327
