smaller houses the wave of the future?

http://www.rapidcityjournal.com/business/article_17e4a9a8-50d9-11e0-bf05-001cc4c03286.html

Since moving back to Rapid City, South Dakota, I've noticed there are a lot of tiny houses. I even thought of buying this cute log cabin that is all of 500 square feet. 

Now comes a guy who thinks 612 square feet is all you need.  Some activities can just be done in common buildings: "For example, in a development Weimer is working to get approved through the city, the owners of smaller homes would share outdoor space and common buildings with space for parties, guest rooms and meetings, managed by a homeowners association."

Having lived in a 400 square foot cabin during the summer, I've learned to live with less.  It actually works out pretty well for me.  But a single guy is different than a couple, or a family.