NileBuilt Is Redefining Homeownership For Millennials
Detroit, Michigan
|
March 19, 2024 08:25 AM Eastern Daylight Time
By Faith Ashmore, Benzinga
The rising threat of climate change and the related surge of natural disasters are having a big impact on how we see infrastructure. While natural disasters like hurricanes and wildfires have always been part of a healthy ecosystem, climate change increases the severity, season length and size of affected areas.
Half of California’s 20 deadliest wildfires have occurred in the past two decades and the total cost of wildfires in the U.S. is between $394 billion to $893 billion every year. More extreme weather patterns that result in flooding and gale-force wind destruction are also a growing concern across the country. Property damage is one of the main costs of natural disasters and these numbers are expected to continue rising, especially if infrastructure is not developed with climate-related threats in mind.
The brewing climate crisis paired with economic concerns is turning millennials away from purchasing their first home. The housing crisis and high interest rates are pricing millennials out of home ownership, as the generation continues to trail behind the historical percentages of previous generations. Simply put, millennials are facing economic challenges in acquiring homes but in the instances that they can, might be weary of owning property in turbulent times.
Eco-Friendly Homes As An Option To Address The Housing Crisis
That’s where companies like NileBuilt, Corp. come in, by providing options to potential homeowners who are conscious of climate-related threats. NileBuilt's mission is to address the housing crisis by providing eco-friendly homes that have a positive impact on the environment. The company’s unique building process incorporates a net-zero and fire-resistant concrete system, resulting in homes that are both sustainable and carbon-neutral.
The traditional reliance on lumber products for residential construction has proven to be increasingly inefficient and calls for a modern solution. While wood has been the primary framework for centuries, it is now evident that its vulnerability to elements and supply chain issues makes it outdated. In 2023, lumber prices rose 13% due to supply chain scarcity which subsequently led to increased housing prices. However, rising prices are just part of the picture; homes constructed with lumber products have a low heat of combustion temperature, leading to rapid fire spread. Lumber is also susceptible to flood damage.
In contrast, NileBuilt homes are entirely non-combustible, eliminating the risk of fire ignition and subsequent spreading. These houses are also flood and wind-resistant. NileBuilt homes go beyond the requirements of the California Net-Zero Mandate, ensuring that they leave no carbon footprint. This is possible through the integration of a PV Solar System and Thermal Battery technology within their concrete building system. With thermal energy storage and release, NileBuilt homes eliminate the monthly utility bill.
NileBuilt says it has found success in Southern California especially, but the company’s mission has scalability potential. NileBuilt’s affordable and sustainable model allows new infrastructure to be built without burdening existing houses.
The company has been around since the 1980s and says it is confident in its ability to use its innovative infrastructure to tackle the problems of today. Its claim as being earth, wind, and fire resistant sets it apart from the current market.
NileBuilt’s mission is compatible with the younger generations' desire to decrease their carbon footprint. A recent report shows that 69% of Gen Zs and 73% of millennials are actively trying to minimize their impact on the environment. Making their homes more energy efficient is one of the key ways they go about achieving these goals. Between the housing and climate crisis, NileBuilt is helping to shift the way millennials approach homeownership and is making it more feasible for millions of Americans to own sustainable homes.
Featured photo by Michael Held on Unsplash
Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders.
This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice.
Contact Details
Benzinga
+1 877-440-9464
Company Website
