Here's what the housing boom bought usby
Americans like lots of room. A century or two ago they found it by moving West like Davey Crockett. Now they make more room for themselves by pushing the foundations of their houses ever closer to their lot lines.
Yes, houses keep getting bigger. Thus, more expensive. Thus, less affordable. And thus, more likely to be lost to foreclosure. (Sorry for being sour here.)
In June the Census Bureau issued its annual report on characteristics of housing built in 2006. Here are some of the amazing stats:
57% of homes built last year are two stories or more, vs. 23% of them in 1973.
The average single-family house completed had 2,469 square feet, 769 more square feet than in 1976. 39% of new single-family homes completed have four or more bedrooms, almost double the rate of just 20 years ago.
26% of new single-family homes sold have 3 or more bathrooms, almost triple the rate from 1986.