| I can't find the sources I had from last time I looked into it, but here's are some that corroborate: https://www.census.gov/content/dam/Census/programs-surveys/a... https://compasscaliforniablog.com/have-american-homes-change... Note that the average square footage of news home in 1960s was 1200 sqf, but the average of a 1960s-era home today is 1500 because of additions. Here are some articles with longer discussions: https://moneywithkatie.com/blog/are-houses-more-expensive-or... https://www.cato.org/blog/questioning-housing-crisis-crisis-... If you don't trust the sources of those articles, note that I was skeptical, too (of similar articles I had read), which is why I went looking for primary sources. There's a similar phenomenon with home ownership. The percentage of homeownership has only varied by a few percentage points over the past 60+ years. However, what has changed is the median age of homeowners: they tend to be older. In particular, younger people tend to wait longer to purchase a new home. Now, there's two ways to look at that: they wait longer because they need to spend more time saving money or they wait longer because they want to buy bigger homes or move into more exclusive neighborhoods. And those aren't mutually exclusive. But then there's also the demographic shift toward older Americans generally, which means younger people are competing with older people (with more savings) for homes. The financial pressures are real, it's just that the sources of those pressures are much more complicated than in the popular discourse. |