Is the Shrinking Middle Class Driving the Growth in Home Size?
Lloyd Alter weighs in on the debate over the shrinking, or growing, size of American homes, seeing the influence of affluent homebuyers as driving an increase in size.
Addressing themes discussed in recent news items on Planetizen, Alter takes note of the predictions for the long-term reductions in average American home size and recent trends in the reverse direction.
According to Alter, "what appears to be really happening in real estate is the same thing that is happened in the job market: the middle class has disappeared, and the only people buying are the rich."
On the hope for an eventual return to the housing size shrinkage prophesized by the NAHB, Alter is dubious about its chances without a recovery of, "a strong middle class with stable, well-paying jobs."
Published on Tuesday, February 28, 2012 in
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