Thursday, May 12, 2011
Read all about it here. A quote from the article:
While the evidence is fragmentary—the current reduction in average new house sizes has more to do with the preponderance of first-time buyers than an overall shift in demand—it is clear that the long recessionary cold-shower will dampen the exuberance that characterized the boom years of 2000 to 2005. That will mean smaller houses closer together on smaller lots in inner suburbs, fewer McMansions, and fewer planned communities in the distant hinterland. An alternative scenario is that American optimism will prevail and it will be business as usual, as happened during the boom of the 1950s following the Great Depression, or during the period following the Energy Crisis of 1973, when car buyers, after a brief flirtation with Japanese compact cars, embraced minivans and SUVs. But I wouldn't count on it.
Of course, there were scooped on this story last summer by CNBC, who was scooped in turn in 2009 by a builder/blogger in Dallas. Hope springs eternal, I guess. Still, to follow an (unrelated) trend to citing Dylan, the times, they are a'changin'.
Jamie Baker Roskie