American families are carrying record amounts of debt as home, auto and food prices surge. Inflation is at a multi-year high, thanks to supply-chain disruptions and increasing costs of raw materials and shipping — particularly building supplies.
All of these factors combined are causing home buyers to reexamine their square footage needs, with many opting for smaller and more efficient houses. But sometimes, the motivation is more of a yearning for cozy quarters than it is a financial need.
“A lot of our clients have already had the large home before, while raising their family,” explains Johnny Miller, president of OakBridge Timber Framing in Loudonville, Ohio. “Now, when they’re building their forever homes, they look to downsize.”
