Here’s a chart from the recent Star Tribune economic trend piece about how “big houses are making a comeback:”
As you can see, Midwest homes are smaller on average than the US as a whole, which surprises me given the straightness of our roads, but probably shouldn’t given how the Midwestern economy is generally lagging the nation. (Right?)
Here’s the best part of the Strib article:
Ryan Cook, 30, and Trent Kasper, 25, are building a 4,000-square-foot house in Minnetrista, in a development where hundreds of new houses are planned. Theirs will have four bedrooms, three bathrooms, an upper-level laundry and an unfinished basement where they might add a home theater or playroom for future children.
They are paying about $560,000 for the house, and said the current market was part of the draw. They’re expecting to get an interest rate of about 4 percent.
“That’s the only reason we can afford what we can afford,” Cook said. “Ten years ago, you couldn’t have gotten this big.”
The surrounding development, when it is complete, will have a pool, a clubhouse and baseball fields.
Chris Galler, CEO of the Minnesota Association of Realtors, said the draw for buyers is simple: “It’s brand-new.”
Thoughts? How do you think the Twin Cities fits into this picture?