5 August 2009 | Posted inBlog News & Updates, Featured
Real Estate Industry Tries to Avoid ‘Scarlet Letter’
The New York Times ran an article yesterday highlighting the removal of a key existing building labeling program from the Waxman-Markey bill. The ‘industry’ is claiming that labeling the efficiency of existing buildings would be akin to pasting a Scarlet Letter on them. To paraphrase: people might choose not to purchase an inefficient building, might offer less than sellers are asking, or might ask for efficiency improvements before concluding the purchase of the building. (Gasp!)
Well, duh. That’s THE POINT. The labeling program would allow the market to demonstrate preference for energy efficient buildings, thus incentivizing owners and hopeful sellers to invest …
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