https://www.yahoo.com/news/great-compression-151806242.html
A decade ago, Jesse Russell was a former reality TV producer looking to get started in real estate. He had just moved back to Bend (his hometown) from Los Angeles, and began with a plot of two dozen 500-square-foot cottages sprinkled around a pond and common gardens. When he pitched it at community meetings, “the overwhelming sentiment was, ‘Nobody is going to live in a house that small,’” he said.
Then the units sold out, and his investors nearly doubled their money in two years.
Russell’s company, Hiatus Homes, has since built about three dozen more homes that range from 400 square feet to 900 square feet, and he has 100 more in development — a thriving business.
* * * * *
I lived 2 summers in a 400 square foot cabin with an outhouse. It was fine, but I did need to rent storage space for stuff I had accumulated living in a regular sized house. My home today is 864 square feet with a garage and for a single person that feels just right to me. I have a spare bedroom for guests and a small back yard. But most importantly, I can afford it.
Obviously families need larger homes. But more and more it's single people looking to buy.
No comments:
Post a Comment