Saturday, January 31, 2009

Small is beautiful?

Matt Thornhill has an interesting feature in his newsletter titled: “The End of Housing Excess”.

It appears that the American dream is shrinking.

For the first time in at least a decade, builders are substantially reducing the size of new houses. The director of research for the National Association of Home Builders says growth in the average size of new single-family homes, which went from 1,750 square feet in 1978 to 2,479 in 2007, is starting to reverse.

It would seem that Boomers are also looking for smaller abodes. This seems to be partly driven by necessity but also by a desire to de-clutter their lives.

The article ends with the warning/prediction: “As housing goes, so go other sectors of the economy, from furniture and home furnishings to appliances and home repair.” You have been warned. Dick Stroud

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