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Asbestos is a mineral fiber, which can be identified only by a microscope. In the past, asbestos was added to various products in order to strengthen them and provide a type of resistance and insulation. However, many manufacturer's have voluntarily decreased their use of asbestos, and the Environmental Protection Agency is constantly fighting products which contain it. Today, asbestos is most commonly found in older homes, in pipe and furnace insulation materials, asbestos shingles, millboard, textured paints and other coating materials, and floor tiles.
As with lead-based paint, improper removal of asbestos (such as by sanding or sawing) can release asbestos fibers into the air in the home, increasing asbestos levels and serving as a hazard to people living in the home. Additional sources of asbestos are:
Normally, if materials containing asbestos are in good condition and not disturbed they are harmless. The problem begins when asbestos fibers are released into the air. Once inhaled, they can cause diseases such as lung cancer. A person's chance of developing a tumor or lung cancer is five times greater than normal if exposed to asbestos. The fibers themselves are invisible, and the effects of inhaling asbestos normally show up years later. If you're purchasing a home you plan on remodeling, make sure to find out where any asbestos-containing materials are located!
For more information, check out the Environmental Protection Agency's website at http://www.epa.gov/asbestos.