There’s an interesting article in the March issue of Atlantic Monthly that’s worth discussing here. I’ll excerpt the relevant bits, but it’s worth reading in entirety.

Arthur C. Nelson, director of the Metropolitan Institute at Virginia
Tech, has looked carefully at trends in American demographics,
construction, house prices, and consumer preferences. In 2006, using
recent consumer research, housing supply data, and population growth
rates, he modeled future demand for various types of housing. The
results were bracing: Nelson forecasts a likely surplus of 22 million
large-lot homes (houses built on a sixth of an acre or more) by
2025—that’s roughly 40 percent of the large-lot homes in existence
today.

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This is part of an ongoing series of guest posts about issues in Norwalk. yourCT.com is a non-partisan site dedicated to airing all sides of a issue. That can’t happen without valuable contributions from our readers.

By Chris Lionetti

You may have noticed green construction in Stamford (RBS headquarters, UBS, Metro Green) and the Wall Street Revitalization project in South Norwalk. Even Darien’s future Library will use two geothermal wells to heat and cool the building! These buildings are efficiently designed to use less energy and less water. Reduced operating costs mean more profitable buildings, which developers and banks understand and appreciate.

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Governor Rell took a step in Friday towards fixing what is becoming a looming problem in Connecticut. With adjustable-rate mortgages resetting at higher interest rates, tens of thousands in Connecticut face the threat of foreclosure. Naturally government has stepped in to being part of the solution after years of being part of the problem.

Rell ordered changes to the plan and a series of informational hearings throughout the state for the tens of thousands of people caught up in the subprime crisis.
The governor said the changes to the program will allow more homeowners to get help from CHFA in avoiding foreclosure.

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