Bigger Incomes, Bigger Homes, Less Satisfaction

Americans are buying bigger homes and on average, to house fewer people. Ironically, their satisfaction in housing choice has eroded somewhat over the last twenty years.

"More people will buy bigger even if they don’t need it," says staff of the Urban Land Institute. "The last three decades have seen homes grow simply because they can. From 1975 to 2005, the average size of a new singleâ€"family home grew by 48 percent, according to the Census Bureau's 2005 survey of new housing, released this summer."

The research into three decades of housing data reveals "the desire to trade up has been fueled by the growth in personal income in the 1990s. That put more shoppers in a position to afford bigger homes."

ULI's senior fellow for housing, John McIlwain considers the selection of larger homes consistent with Americans’ out-sized choices in other areas --"cars…TV sets…hamburgers," and the tendency does not just affect single-family homebuyers. "Units in multi-family buildings are bigger too."

Thanks to D. A. Varnado, AICP

Full Story: Hefty appetite for super-size homes

Comments

Prepare for the AICP* Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $245
AICP CTP Storefont Display

The first online AICP* CTP exam prep class

Are you ready to take the AICP* Certified Transportation Planner exam?
Priced at $245 for May exam!
Book cover of the Guide to Graduate Planning Programs 4th Edition

Thinking about Grad School?

New! 4th Edition of the Planetizen Guide to Graduate Urban Planning Programs just released.
Starting at $24.95
Red necktie with map of Boston

Tie one on to celebrate your city

Choose from over 20 styles of neckties imprinted with detailed city or transit maps.
$44.95