My suspicion is, this 'staying within the footprint' idea has to do with zoning. If there are restriction setbacks in a community, or floor area requirements, there's an incentive to do this. You can't build on, so you build within. That would generate some pretty creative solutions.
More Quotes from Kermit Baker:
This is a generation that has wealth and longevity. And most aging people don't want to move.Kermit Baker
It's a harbinger of slower growth. Both home-building and remodeling helped carry the economy through slower times. Now it will be the reverse, or at the very least it won't be a source of propping up the economy.
Kermit Baker
Not bigger, but better - that thought has caught on in some places.
Kermit Baker
We're seeing regional design activity very strong here. The strongest sectors seem to be on the institutional side, education and health care.
Kermit Baker
Homes have been getting bigger and bigger for some while. The last time we looked, room additions were still a real important part of the remodeling market.
Kermit Baker
Over the last 10 years, we've seen a fairly significant core of the population spending more than half the value of their home on improvements. Some of that is because buyers increasingly are moving into older suburbs convenient to their jobs in the city, and they're renovating smaller Cape Cod and ranch-style homes.
Kermit Baker
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