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02-09-21 | Association News

Study Shows Value of Building Codes

Federal Emergency Management Agency (FEMA) Study

The National Association of Home Builders (NAHB) relayed a study from the Federal Emergency Management Agency (FEMA) in which they support the most updated building codes. The Building Codes Save: A Nationwide Losses Avoided Study, quantifies the financial benefits of implementing regulations from the International Building Code and International Residential Code. The finds explain the impact damage from earthquakes, floods, and other natural disasters can have on architectural projects, and, in doings so, highlights the necessity for sustainable design.

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Key findings from the study include:
• An estimated $27 billion in losses because of earthquakes, floods and hurricanes have been avoided since 2000 in states that have adopted various editions of the IBC and IRC.
• An estimated $132 billion to $172 billion in losses could be avoided through 2040 through continued use of the IBC and IRC in states at high risk of earthquakes, hurricanes and floods.
• An estimated $600 billion in losses could be avoided by 2060 if all new building construction in the United States complied with the 2015 and 2018 IBC and IRC.

http://nahbnow.com/2020/12/fema-study-shows-resilience-value-of-building-codes-but-understates-cost-impact/

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