Home Buyers Happy With Less

There was a new study released on Monday by the American Institute of Architects, which revealed that Americans no longer desire larger houses.  Only 4% of those surveyed said that they would like more square footage in their homes.  Last year, this same survey had close to 20% longing for a larger property.  It is interesting to see how the mindsets of Americans have adjusted to the times.  Most have come to realize their needs over their wants, which is a very humbling thought.  Of course, it is most likely that this idea will shift again once we are out of the recession, but for now, it is definitely a sign of the times.  This news is great for real estate investors buying more modest homes in suburban areas; you can really work this market because these smaller homes, averaging 2,300 square feet, are the ones being built right now.  They are also the properties available to be saved through short sales, foreclosures, and all other cases associated with this economic downfall.