We are seeing people around us cutting back and slowing down. There is a growing trend to downsize and simplify lifestyles. Partially, this is the result of the new economy. The positive side of this trend is a renewed focus on family and friends, and time spent together. Backyard cottages have a role to play in the new economy allowing extended family to live closer together. Cottage housing also, with smaller interior spaces and an emphasis on shared community space will likely also continue to grow in popularity.
A compilation of recent data shows further erosion in consumer demand for larger houses. Obviously there are a combination of factors that affect consumer sentiment. The economy and the real estate market being perhaps the biggest two. According to research by Trulia.com 9% of consumers now believe that their ideal home is 1,400-800 sq.ft.. Granted an equal percentage feel that their ideal home is over 3,200 sq.ft. and probably need 800 sq.ft. just to park their hummer, but it is a significant change. For more detailed breakdown see the attached link.
Consumers Declare McMansion Era Over
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