FHFA Shuts Down Financing Energy Retrofits

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					     OVERVIEW                                                                                                                ■
                                                                                                                                    NEWS                  ■
                                                                                                                                                              TRENDS                  ■
                                                                                                                                                                                           COMMUNITY



      LEADING INDICATOR



                          Remodeling Spending
                          to Accelerate
                                 recovery in home improvement spending will soon be underway

                                                 A
                                 according to the Leading Indicator of Remodeling Activity (LIRA)
                                 released by the Remodeling Futures Program at the Joint Center for
                          Housing Studies of Harvard University. Spending is expected to show an
                          increase by the end of 2010, and the LIRA points to growth accelerating to
                          the double-digit range in the first quarter of 2011.
                              “Absent a reversal of recent economic progress, there should be a healthy
                          upturn in home improvement activity by year-end and into next year,” says
                          Eric S. Belsky, managing director of the Joint Center for Housing Studies.                                                                                                                                                            ENVIRONMENT
                              Homeowner optimism is bolstering a trend toward investing in the home                                                                                                                                                             LEED Certified Jobsite Trailer
                          again. “The recovery in home improvement activity appears to be moving                                                                                                                                                                     Reno Contracting, San Diego, announced
                          beyond simple replacement projects and energy retrofits to broader remod-                                                                                                                                                             the first LEED certification of a jobsite con-
                          els and upgrades,” says Kermit Baker, director of the Remodeling Futures                                                                                                                                                              struction trailer. The trailer serves as the opera-
                          Program. “A wider activity base would help generate the expected growth in                                                                                                                                                            tions offices for the Reno on-site team, and is
                          the quarters ahead.”                                                                                                                                                                                                                  presently located on a jobsite in Anaheim. The
                                                                            $160                                                                                                                                    40%
                                                                                                                                                                                                                                                                frame and exterior walls of the Reno trailer
                                                                                                                                                                                                                                                                were salvaged from an old trailer and reused
                                                                                                               LEADING INDICATOR OF REMODELING ACTIVITY
        Homeowner Improvements Four-quarter Moving Totals (Billions of $)




                                                                            $155
                                                                                                                                                                                                                                                                as part of the new one. This kept the project
                                                                                                                         SECOND QUARTER, 2010                                                                       30%
                                                                            $150                                                                                                                                                                                from requiring new steel and wood framing.
                                                                                    $146.2
                                                                            $145             $144.2                                                                                                                                                             Likewise, many of the building products used in
                                                                                                                                                                                                                    20%                                         the trailer contain recycled or reclaimed materi-
                                                                                                                                                                                                                           Four-Quarter Moving Rate of Change




                                                                            $140                      $139.1                                              ■ US CENSUS BUREAU
                                                                                                                                                                                                           12.4%
                                                                                                                                                          ■ LIRA PROJECTIONS                                                                                    als. The HVAC and lighting systems have been
                                                                            $135
                                                                                                               $132.2                                                                               5.0%
                                                                                                                                                                                                                    10%                                         designed to minimize the amount of energy that
                                                                            $130                                 
				
DOCUMENT INFO
Description: The Federal Housing Finance Agency (FHFA) on July 6 effectively shut down Property Assessed Clean Energy (PACE) financing programs, which it said "present significant safety...
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