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With the shrinking economy, home sizes have also become smaller. Will this trend reverse itself just as it has after past recessions? I think that once appreciation returns, home sizes will trend upward again, but the smaller-sized trend may last a little longer than in the past.
Here is an interesting article on this subject.
November 15, 2010
By Cindy Perman
Home ownership has long been a symbol of the American dream, and for a while, we supersized it. But since the recession, we’ve been downsizing.
The median home size in America was near 2,300 square feet at the peak of the market in 2007, with many McMansions topping 10,000.
Today, the median home size has dropped to about 2,100 square feet, and more than one-third of Americans say their ideal home size is actually less than 2,000 square feet, according to a survey by real estate site Trulia.
Read more: http://www.houselogic.com/news/articles/new-homes-get-smaller-home-owners-shift-priorities/#ixzz15O6Xo6QX
