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Are New Homes Shrinking?
This will be a very quick post- I’m working online today with CNN on in the background and wasn’t paying much attention until I heard them talking about how builders and buyers are reducing the size of new homes. They stated that in the last 3 decades the average American home has increased in size by a least %50. Sounded like they said this would be the 1st time in a while that the average sqft of new homes would actually reduce.
I went online to try and find some supporting information and wasn’t able to find much in a short period of time. Although it does make sense that builders and buyers in general are reducing the size of their homes to make them more affordable. When you consider all the other cost factors than just the price of the house, things can really start to add up:
- Utilities
- Taxes
- Maintenance
- Insurance
If anyone has information regarding this topic I would love to hear about it!