ECO 360 Article Week 2

ECO 360 Article - depending on location There are different zoning and building codes depending on the area which may cause challenges in

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Economics in the News 1 Economics in the News With housing sales down due to individuals not being able to afford the increasing home prices individuals who want to own are turning to purchasing condos which are more affordable. Developers are building condos that are desirable to individuals. Builders want to ensure that they will have quick sales when construction is done so they are getting feedback from potential buyers on what they are looking for in a condo. With more people working from home at least part of the week, individuals want to have a live-work area in their condo units. Working from home saves individuals from rising fuel costs, parking, and traffic congestion. In 2000, the US Census found nearly 4.2 million people age 16 or older working from home some days during the week, up from 3.4 million in 1990 (Bowden, 2007, p. H25). A live-work unit may consist of an extra room, separate entrance, or a loft-style apartment
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Unformatted text preview: depending on location. There are different zoning and building codes depending on the area which may cause challenges in construction since this is a new concept. The problems facing these units are how to treat them for fire protection, sewer capacity, and compliance with the American with Disability Act since the property is being used as both private and commercial (Bowden, 2007, p. H25). The demand for these live-work units is growing and causing developers to construct more of them throughout the United States. There are issues still with zoning and building codes. These units are short in supply now since they are being built slowly. These new live-work units are a new growing trend in the economy as more people continue to work from home each year. Economics in the News 2 Reference Bowden, M. (2007, June 24). Live-work condos offer dual-purpose space. Orlando Sentinel , p. H25....
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This note was uploaded on 09/06/2011 for the course FIN n/a taught by Professor N/a during the Spring '06 term at University of Phoenix.

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ECO 360 Article - depending on location There are different zoning and building codes depending on the area which may cause challenges in

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