Though the economy has been tough in many ways (e.g., declining work force participation), housing space per person is dramatically on the rise. Mark Perry of AEI writes, “In 2013, the average size of new houses built increased to an all-time high of 2,679 square feet (see blue line in top chart), and the median size new home set a new record of 2,491 square feet (see red line in chart). Over the last 40 years, the average home has increased in size by more than 1,000 square feet.” (The average is greater than the median because the really huge houses push up the average.)
Perry goes on to note that we’re paying roughly the same on a per square foot basis in inflation-adjusted dollars.
Read the whole thing.