Some Interesting Changes in Real Estate

There has been a great deal of “Not Negative” news regarding real estate in the last several weeks. It has been a refreshing change.

I’ve read numerous stories in real estate trade magazines, Bloomberg Businessweek Magazine, Barons, local newspapers and various business e-newsletters covering the changing demographics of buyers and renters. Some cover the actual event and you needed to ask “Why?” to realize the difference in the incentives behind the deal. Others covered studies or surveys.

Observations:

• The size of homes being built is continuing to shrink. (less seldom used space for space)
• More and more emphasis on energy efficiency – people are realizing energy in not going to get less expensive over the long haul .
• More renters – particularly among younger consumers.
• More in-law suites being included in new homes.
• Often small homes – but increased quality. (good – I’m so tired of poor quality McMansions built for square foot and not long term durability and quality of features)
• More outdoor features/usable living areas.
• More “walking” neighborhood alternatives. More younger buyers asking “How far to the nearest public transportation”.

I personally find these changes refreshing. It seems common sense is once again working it’s way into the home market.