Here is an interesting article in the NY Times on trends in new housing construction: In Housing, Big Is Back. The article describes the return of the big, luxury home after that segment of the housing market took the biggest hit during the housing collapse. According to the article:
When it comes to new homes, bigger is again better. The median size of new homes built for sale peaked in 2007 at 2,295 square feet, then fell to 2,159 two years later, after the housing crisis hit. But the appetite for ever-larger homes has returned: In 2012, new homes reached a new peak of 2,384 square feet and, according to the National Association of Home Builders, some 41 percent of new homes had four or more bedrooms, up from 34 percent in 2009.
As our own South Orange County construction boom continues, it will be interesting to see if Rancho Mission Viejo embraces this trend. As you know, with Planning Area 1, Rancho Mission Viejo went smaller: small homes on small lots, and tried to lure homebuyers with extensive community amenities. Will future Planning Areas return to the trend of larger homes on larger lots? Many of Ladera Ranch’s villages were based on this approach, and had been successful until the real estate crash.
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