Well that’s what the National Association of Home Builders says. According to the NAHB–new homebuyers are giving up space. Dining rooms, three-car garages and mud-rooms which were in-demand features for new homes are now being deleted from blueprints. According to NAHB, home buyers are looking for smaller, energy-efficient homes (see last post). A recent survey conducted by NAHB revealed that new homes will be 15 percent smaller by 2015 compared to 2007. Could it be that with the current credit situation making it somewhat more difficult to secure a mortgage that home buyers have stripped down from mid-luxury size homes to accepting a smaller, more economic and energy-efficient homes?
If Americans can’t have big, beautiful, fabulous (especially middle-class) will it be worth owning a home in America?