Housing Shortage Coming In 2011 – Forbes.com

The focus of the U.S. real estate market lately has been the number of foreclosures and people trying to purchase cheap housing. But Brian Wesbury, chief economist at First Trust Advisors, says that if Americans don’t start focusing on building new houses, the market will have a much bigger problem on its hands.

“We need one and a half million houses per year just to keep up with population growth,” Wesbury said in an interview with Steve Forbes. “And then if you throw in, you know, fires and tear-downs and just worn-out properties, we need 1.6 million or more per year. Right now, we’re down to about six and a half, seven months’ inventory whether you look at new homes or existing homes.”

It’s hard to believe that the States could be positioning itself for a housing shortage. But that’s exactly what some economists are saying. But despite the national outlook for housing, the Colorado Springs real estate area has no shortage of potential home sites. Over the past few years, land developers have platted almost a 7 year supply of lots.  In a nut shell, that means that based on average new home sales, it would take 7 years for all available lots to be sold.  That’s quite an inventory stock pile! 

So what does this mean for new home buyers?  Deals.  And lots of them!  New home builders now have the opportunity to purchase lots for less money, which then, hopefully, translates into more affordable housing for you and me.  Combine that, with the home buyer’s tax credit, and you’ve got a win-win situation for buying a new home!

Good laundry room habits, including some occasional minor maintenance, can save energy and shave nearly $300 off your annual utility bills. That’s because you can curb the biggest energy culprit: the cost of heating water.

The bulk of a washing machine’s operating costs—around 90%, says Energy Star—go to replacing the hot water in the home’s hot water tank. Reduce the amount of hot water the appliance uses, and you’ll significantly shrink its associated utility bills. By washing fewer loads and doing those loads in cooler water, you can save around $200 per year.

1. Use cold water. Switching from hot wash to cold, according Michael Bluejay, also known as Mr. Electricity, who specializes in electricity savings, can shave up to $215 per year off your electric bill. If you have a high-efficiency washer or gas-fueled water heater, assume savings of about half that figure. Cold washes are generally as effective in getting clothes clean as hot.

2. Only wash full loads. Discounting the energy required to heat the water, it costs around $60 per year in electricity to run the washer, according to the U.S. Department of Energy. Because it takes just as much electricity to wash a small load as it does a full one, you’ll save money by only washing full loads. By reducing the number of overall loads by one-quarter, you can save $15 a year.