In the March 2009 publication of AZRE Danial Pollack of Pollack Real Estate Investments provided his thoughts on the Arizona economic outlook for 2009. What caught my eyes was his assessment of the residential market. He said, "At large, people are changing their goals from having the largest home possible, at any cost, to having the the best possible quality of life. That means small homes within infill locations will be the most sought after in the residential markets for the foreseeable future".
Yet another comment in a string of news pieces from NPR, Washington Post, Arizona Republic, etc. regarding the changes going on in the marketplace. It will be interesting to see in the coming year which builders will capitalize on the smaller, efficient, greener home concept. Will it give them the competitive advantage they need to survive the financial crisis? Is this a temporary or permanent change for the home building industry?
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