What might U.S. homes and workplace be like in 2020?

By John Chung

Energy is an integral factor of how we live, work, and play, and how future change in energy demand plays out. we need to forecast energy use on the basis of the way we live and work and how this will change over time. The main focus is given on saving energy and using it efficiently. People do not want to sacrifice the quality of life but rather save on the expense.

There was a general consensus that future building in 2020 will be substantially different from what you see today. We speculate on the technological changes that will influence our life styles.

To make more energy efficient homes, a new housing boom has started. The idea is to demolish old enery-inefficient houses and rebuild small enegy-efficient houses. The reconstruction created some hundred thousands new construction jobs with energy use technology as the main driving engine of housing construction.

Since we expect recession recovery from recession to be very slow shape like banana and under a scenario of a long lasting downsizing of the economy, a average work-week will be extended to 5 or 6 days. It is not realistic to forcast a quick recovery  of our economy  as long as we have more than 10 trillion dollars in national debts. Let us forget about three easy days a week-utopian dream -for a while. Therefore, Americans, especially New Yorkers, will have no choice but work longer hours in the office and at home. Allocating the best time for rest, enteertainment, and recreation and saving on expenses are considered very important factors. Time is a valuable commodity, so time-saving features are essential.

The increasing demand for large-sized wall-screen means that cooking at home is going to be popular. Pre-cooked meals ordered through the internet and delivered to the home will save dinner preparation time.

Higher gas prices, traffic-congestion, increasing toll fees, and too much time wasted on the road becomes good incentives for people to move back to urban living-seeking access to entertainment facilities, closer neighbohood community, and economic opportunity. Most of young people's interest in personal physical fitness will continue , leading to the development of more communal excercise facilities and pools, especially in an apartment complex.

The design of a new house involves super-insulation weather tight with a mechanical ventilation system. Good ventilation will reduce dust in the room, thereby lessening the need for dusting and cleaning. It is also cost-effective and pro-environment. Old houses need new ventilation systems installed to raise the value of the dwelling

Not the size of the room but rather comfort and control will be driving factors for residential mechanical equipments and appliance. The use of remote control for heating, cooling, and lighting individual areas will improve zoned and whole-house heating, cooling, and ventilation with heat recovery and good filteration.

Sensors will control the heating and cooling of only occupied spaces. Air quality and humidity sensors will assess sthe need for ventilation. Door bells equipped with small screens will be good for security gadgets.

The residence will develop more contact with the outdoor space, both through gardens and patios for single house and balconies and roof gardens for apartment building.

Use of solar energy will be more widespread among residential buildings. integrated photovoltaic panels will become increasingly popular.

How the office will be in 2020?

More home-based work with less office-based work will be needed as people re-discover the value of human interaction. The need for human interaction would lead to more cfes, coffee shops, and informal settings in the work environment. Wide ouse of cell-phones would make office cafes effective and cheap. Already, many places have internet connectionss and tables for office works. Cell phones connecting to office main cimputers make the job very easy. This on-the road cafe office saves on -space and bring about more productive contact with clients.

Individual will not be assigned to individual office space. This is waste of space. Small conference rooms sharing spaces a specific time zone will serve the need perfectly well.

Smaller home with high-tech energy efficiency

due to the general trend of a downsized life-style, people will prefer smaller apartment with less utility bills, common charge, and rea estate taxes. Location is an important factor in selecting apartments. Nearness to a subway station, good view, and presence of gyms or sky decks are must.Apartment with large spaces, with fantastic kichen and bath rooms, and fantastic interior decoration attracted many buyers during the Wall Street boom time. However, times have changed. People prefer smaller apartments to big one.  People love open spaces, not closed surrounding, A river view, park, playground, bike road, clean air, and accessible public transport are major points for rental consideration. Housing price is quoted on the basis of rental income.  

Therefore, studios converted in to one-bed-room and one bed-room converted into two bed-rooms near good location will be a favorite place to many. People's income is rising slowly. Wall Street' huge bonuses are history. People are looking to cover housing expense on the basis of income currently making,  not on the expectation of getting chunky bonuses in the future. Bonus is now regarded as uncerain income and should not be seen as steady income source. The Wall street boom encoraged people to buy luxary condominium and developers build excessive units in New York City. Currently bonus is not being considered as income when one has lease application

Twenty reasons for the NYC real estate bouncing back until 2020

1. Investors know that the best investment solution to beat inflation risk is to invest in real estate properties. More investment money will move into the real estate market more money moved in pushes the price up.
2. Economic recession and recovery are moving very slowly, the trand assuming a banana shape. The real estate market will bounce back to a level above that of the 2007 peak price slowly but steadily, then new market boom shall remove all unsold properties. This is because the market needs a longer time to recover from the slump. This time is different from previous slump recession. The V type or U type recovery-may never happen.
3. first-time buyers or young professionals are the mainb-stream of the new buyers group. They are looking for new construction. one bed-rooms located at place with easy access to public transportation. Demand is high and supply is short, the imbalance in supply side will move home price up.
4. Buying a home is still the best investment choice concomitant to retirement plan. As soon as market uncertainties clear out, first -time buyers will move into the market. There is no shortage of buyers out there.
5. Foreign buyers are coming back with big hands and deep pockets. As long as rental income is stabilized. they want to invest directly as principal owners. These big hands no longer trust Wall Street. For example, the headquarters of AIG building was sold to a foreign investment group. The same group invested in Wall Street last year and lost 30% of the assets.
6. For young professional first-time buyers, switching to owning a property from being tenant make more sense.  Due to shortage of available condominimum, the need to purchase new construction will rise again.
7. The market will clean up bad loans. Foreclosed properties are all sold out. There will be no more market pressure to bring the price down.
8. New construction will sell property at list price, no more bidding or discounted price. Market changes to a seller's market again. The seller's market will lead the market upward.
9.  Energy-efficient and high-technology control for air condition, heating, ventilation and .moisture control will be in greater demand. New construction will be developed to meet that special demand.
10. financially rich investors with deep pockets ae coming back. They will buy multiful-units to stimulate the market and purchase luxurious high priced condo for their own use.
11. Inflation makes the property look cheaper. The lower dollar exchange rate makes the property attractive to foreign buyers, banks are eager to lend money to qualifed buyers.
12. The subway 2nd Avenue line will boost real estate value along the Manhattan East properties. This subway line runs from 125th Street to Hanover Square in lower manhattan. #7 train extensions to west 42nd Street will boost the real estate market value.
13. A down-sized life-style makes city living much more enhoyable. People want to move in to NYC to work and live in the center of entertainment, healthcare, and investment opportunities.
14. Uncle Sam eventually paying off a substantial amount of national debt brings the U.S. economy to a stable condition. This is good sign to the stock markets  and real estate market as well.
15. The end of war in iraq and Afghanistan will be good new for the real estate market.
16. More jobs become available from new industries engaged in alternative energy. A new wave of highly -paid engineers and scientists will form the new group of home buyers, filling the seat vacant from Wall Street buyers.
17. A new influx of immigrants will buy homes.
18. There will be low inventory of  available properties for sale due to the slow down of new construction.
19. Numbers of short-sale become less because the price of stressed propeerties bounce back.
20. Outstanding mortgage may be converted into investment by banks as solution to the problem of debt obligation.