As the economy shrinks, so do the houses.As reported this week, the average home size has officially shrank to 2,438 square feet, which, if you ask me, is still a huge house.
It makes perfect sense, though. We've had decades of increasing house sizes that, for the most part, followed an expanding economy. Now that the tables have turned, it seems more people are embracing this new frugality. Small is the new black. Cash is the new king. And bling is about as socially acceptable as driving a Hummer.
I suspect that house sizes will continue to shrink until we get back to equilibrium between how much house we need and how much house we have.
The new status symbol is a free life, not a McMansion. This can only be a good thing.
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