ABSTRACT
The provision and maintenance of adequate housing is a major part of our modern economy. In the United States, for example, housing and housing services account for about 18 percent of the Gross Domestic Product. About 30 percent of the annual income of a typical household in the US is spent on housing. For lower income households the percentage can be significantly higher. In the European Community, an average of about 21 percent of household income is spent on housing. Construction costs, upkeep and repairs, and energy consumption account for the bulk of housing expenses. Nanotechnology can be employed to improve or replace conventional materials and technologies and reduce long term housing expenditures.
