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New home size is shrinking in the U.S., reports the Wall Street Journal.
According to the U.S. Census Bureau the average size of homes started in the third quarter of 2008 was 2,438 square feet, down from 2,629 square feet in the second quarter, while the median size declined from 2,291 square feet to 2,090 square feet during the period. The trend — fueled by new economic realities — is expected to continue while the downturn persists: a survey by the National Association of Home Builders found that 88 percent of builders are “building or planning to build a larger share of smaller homes”, while 89 percent are planning to build more lower-priced models.
What is the environmental impact of the change? Small homes generally require fewer resources to build than large homes and are therefore associated with lower emissions from construction.
Amy Hoak. Many Say Goodbye to McMansions. Wall Street Journal JANUARY 26, 2009