With the era of easy financing over, buyers should seek out smaller, more affordable homes.
"For years, the building industry has produced bigger and bigger homes. Consumer expectations, easy credit and greater profit potential have resulted in new houses with more rooms, larger garages, increased volume and, of course, higher price tags.
Consumers, after all, seek to consume. Why settle for three bedrooms, two baths and a one-car garage? Why not opt for a kitchen big enough to entertain several guests and roast two turkeys at once? Why wouldn't someone want a house with a separate room for every function? How can anyone live without a dedicated audio-video entertainment space, multiple walk-in closets and a master bathroom larger than the rarely used dining room?
Today's housing-market paradox is that while houses have been expanding, households have been shrinking. In suburban houses built during recent decades, fewer people occupy more space.
This trend's lack of sustainability seems to finally be apparent."
Read the full story: Slowdown Offers a Chance to Get Real About Home Sizes
Desperate measures: Advocates weigh draining Lake Powell to fill Colorado River
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Eastern Nebraska is running out of electricity
Data centers and electrification are straining eastern Nebraska’s grid, throttling economic development.
Move over, LA: St. Louis gears up for Olympics, invests millions in downtown redevelopment
The Missouri city will host the 2028 Olympic soccer group stage and knockout matches.
Maryland’s $15 billion bridge project gains key approval
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‘No clear next steps’ for Chicago's permanent festival grounds
Eleventh Ward Ald. Nicole Lee has suggested Soldier Field as a possible location for the permanent event space.
California, Hawaii, Rhode Island approve housing propositions
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FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
City of Rosemead
Rutgers University, Edward J. Bloustein School of Planning and Public Policy
One Hundred Miles
University of Michigan School for Environment and Sustainability (SEAS)
Hunter College, City University of New York (CUNY)
The Architects Foundation
City of Cambridge
Montrose County
The Pocatello Development Authority