http://styledstagedsold.blogs.realtor.org/2009/05/27/shrinking-homes-how-small-will-homes-go/That link to Realtor.org was interesting. It discusses plans by KB Homes for a smaller SF home community. This worked well in the past for seniors but with strong deed restrictions and HOA's. Many people are wanting this but...if the driveways are short and the playground is small and the garage space is lacking, this may be just another thrown together subdivision...like many costing a lot more.
I intend to spend some time watching what KB Homes does with this idea and asking questions of KBH. If done correctly, this would be fantastic. If done improperly, it will be just another compromise that homeowners have to make that is out of line with what they pay, even if it is only $64,000 (Houston dollars on a home before options, I am sure).
Now that conventional builders are looking in this direction, we have to think of the ultimate consequences. It will be interesting to see what the compromises are. One day, maybe we can even have it both ways...smaller affordable housing for those who want it without compromising living conditions.
If people want a new home but only qualify for a lower price range, then moving a family of six with four cars into a 880 SF home with a short driveway may not be the most comfortable solution...a larger older home may offer them more comfort and options. I see these small new homes working for young families as well as seniors and single people tired of apartment living but not wanting to go heavily into debt. Smaller than some apartments, these homes would help those groups build equity. Some get trapped in apartments and never get out. One thing I feel safe in predicting is far fewer foreclosures.
Depending on safeguards, I would seriously consider one of these homes. It would be a mansion after living in a travel trailer for a year. Twenty years ago, it would still have fit my lifestyle, because my old home was only 820 SF but with plenty of off-street parking in my neighborhood. Now with big screen TV's and other bigger toys, people just have to have more space. Let's watch this and see where it goes. I guess the buyers will lead us, not our own opinions.