A New Jersey Star-Ledger editorial published Sunday (June 25, 2018) cites continued global warming predictions as a concern for the real estate market along the Jersey shore. “If you have just acquired a 30-year mortgage for a beachfront property in Lavallette, Long Beach, Little Egg Harbor or a few dozen other New Jersey towns,” it wrote, “that house is likely to be underwater by the time you pay it off.”

Its intended meaning was literal, and not just a reference to home value. “Your seaside citadel is likely to be uninhabitable by 2045 because many waterfront communities along New Jersey’s 130 miles of coastline will require that you wade from your driveway to your front door,” the newspaper opinion added.

It quoted a Union of Concerned Scientists’ study which “determined that accelerating sea-level rise – driven primarily by climate change – will put more than 62,000 residential properties in (New Jersey) at risk of chronic flooding over the next 30 years, a collective loss cost of $26.8 billion.”

Only Florida will face more destruction, according to the scientists’ group.

The editorial suggested Americans “respect the science” and take greater interest in United States’ participation in international climate control agreements.

“Adaptation and shore replenishment will always be necessary,” the editorial concluded. “But if we continue to make bad choices – in lifestyle, energy options, and at the ballot box – we cannot be surprised if New Jersey’s treasured coastal real estate market washes away in our time.”

Free video stock footage from Videezy;
production by Polley Associates

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That also means the construction industry, which so far has escaped major cyber threats, is no less vulnerable to them, according to the Insurance Recovery Blog of attorneys Hunton Andrews and Kurth LLP. The firm’s practice includes real estate, development and finance; and insurance coverage.

“Sensitive data related to buildings and projects” stored by builders online could prove tempting targets to some hackers, blog authors Michael S. Levine and Alexander D. Russo wrote.

“The more you use electronic platforms, the more vulnerable you’re going to be to hackers who access data improperly or cause harm to a construction project,” they cited Hunton partner Walter Andrews from an interview with Law 360 on cyber risks.

Bad guys might find irresistible the chance to reach other companies simply by attacking one source: the builder that binds them together.

“What makes construction unique from other industries is developers have so many partners they need to share information with and have access to the same data platforms,” Andrews explained. “They have access to your data and you have access to their data, and more importantly, a cyber thief can access your system through theirs and vice versa. That’s what starts to make it unique and create problems.”

One potential answer? Insure against the risk, the blog authors suggested. “Policyholders in the construction industry should look towards specialized cyber insurance that fills any gaps left by more traditional policies,” they wrote.

Photo from Pixabay, used under a Creative Commons license

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In an exercise that’s known among journalists as “crowdsourcing,” ProPublica is asking those who are “victims” of defective drywall to “take a moment to fill out our online form. With your help, we’ll be able to finally measure the scope and severity of this crisis,” it said.

The form can be found here.

Once information is received, ProPublica reporters follow up with home owners to confirm facts, gather more information, and flesh out details. In past reporting, its efforts have usually resulted in a series of stories – and occasionally video and podcasts – that delve deeply into the issue.

ProPublica is collaborating on the stories with the Sarasota FL Herald Tribune newspaper.

Crowdsourcing also is being used for a different ProPublica real estate-related series on the federal home loan modification program. “Nearly 800 struggling home owners have told ProPublica stories about their efforts to get a loan modification,” it reported.

Problem is, the response has been too overwhelming. ProPublica can use only a fraction of those in its coverage, it noted, so it wants to introduce those sources to local journalists working on similar stories. A sign-up form for them can be found here.

Photo from ProPublica

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Ohio-based moulding manufacturer Fypon LLC said Wednesday (April 3, 2013) it’s enjoyed “ongoing strength of crown moulding sales” over the years. Its success bolsters the NAHB study’s conclusion that 62 percent of buyers prefer crown mouldings in the home, ranking it just behind ceiling fans and built-in shelving as most desirable.

Fypon makes urethane crown mouldings that can be installed by builders at the time of construction, and by home owners and do-it-yourselfers as a “fairly easy” post-purchase project. Company spokesperson Anita Piety refers to the phenomenon as “a double whammy of popularity.”

Results from the NAHB study, titled “What Home Buyers Really Want,” also indicate that consumers’ desire for crown moulding in the home has steadily climbed. In the 2004 study, 51 percent of respondents rated crown moulding as “essential or desirable;” in 2007 it rose to 61 percent, and rose again last year to 62 percent.

“Crown moulding is a timeless product,” Piety claimed. “There are such a wide variety of designs and sizes that anyone can match up a home style with the appropriate crown moulding.” Fypon offers thousands of decorative millwork elements in a variety of architectural styles to enhance the interior and exterior of homes, she added.

Related (to the National Association of Home Builders):

• Builder Study, Manufacturer Sales Show Moulding’s Popularity
• Home Builders Would Love Legislation Offering More Credit
• Market’s Now Looking Better For Multi-Family Housing Units

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The homes are built at no cost to veterans through the support of individuals, foundations and corporate contributors. Lancaster-based Armstrong, the group’s exclusive flooring supplier, said a portion of sales from its new American Scrape collection will support its effort. American Scrape features textured hardwood floors inspired by American landscapes; each floor is made in the United States.

The homes include many products that help veterans participate in and enjoy daily life with their families. Each is designed to provide maximum freedom of movement and the ability to live more independently after returning injured from service. Armstrong’s donated products include engineered hardwood and resilient floors that meet universally designed criteria.

Financial and supply donation are being accepted by Homes for Our Troops at its website.

Photo from Armstrong Floor Products

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