During COVID, Small Houses Equals Big Prices
The pandemic sent many Americans looking for more space. Sales of large homes are booming, but so are tiny ones. Listings for small spaces have increased 8.6% a year on average over the last decade (Wall Street Journal)
The high cost of housing is one factor. The median price paid for a home by a first-time buyer is around $266,500, according to the National Association of Realtors, which is out of reach for many younger owners. Tiny homes can be rented for about the price of a traditional apartment unit of the same size. For tiny homeowners, the units generate income or serve as guest homes. Owners often rent them out to college students or offer them to elderly family members, so they can stay nearby.