Reply to Millennials aren't going to buy your ugly mcmansions, silly Boomers!

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]There will always be those who opt to be closer in and willing to live in smaller homes.  There will also always be those who opt to move out for bigger homes.  So there are going to be many millennials who choose to have smaller families and stay closer in.  But there are also going to be many millennials who choose to have more than one child who opt for larger homes with more yard space, more rooms and more square footage.

That said, the average square footage of homes is still trending upwards, so it looks as if the desire for more house is still outweighing other factors.
[url]http://blogs.wsj.com/economics/2016/06/02/u-s-houses-are-still-getting-bigger/[/url]

See the graph in the article above.  The only significant drop in average sf house size since 1982 was 2007-2008 during the big housing recession where many buyers had to opt for smaller because that's what they could afford.

So, even if some millennials are opting not to get bigger houses, many of those with 2+ children still are buying larger houses.[/quote]

Actually, more recent data seems to suggest the opposite--homes are starting to shrink, just a little:

"For the first time since the recession, home size is shrinking. Median single-family square floor area fell from the first to the second quarter of this year by 73 feet, according to the National Association of Home Builders (NAHB) and U.S. Census data. That may not sound like a lot, but it is a clear reversal in the trend of builders focusing on the higher-end buyer."

"The majority of it is a question of affordability," said Bob Youngentob, president of Maryland-based EYA, a builder concentrating largely in urban townhomes. "People want to stay in closer-in locations, at least from our experience, and closer-in locations tend to be more expensive from a land and development standpoint and so, the desire to be able to keep people in those locations is translating into smaller square footages and more efficient designs."

http://www.cnbc.com/2016/08/23/why-houses-in-america-are-getting-smaller.html[/quote]

I'd tend to pay more attention to the larger data set than to an article that extrapolates from data about two quarters in a single year and then quotes a niche builder of townhouses for the proposition that people want townhouses. [/quote]

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