How to make homes more affordable? One method is to build smaller homes. Two years ago, when interest rates were low, the average Hayden home was a 1,900sf 3-bedroom that cost $500,000, with a $2,000 monthly payment. (5% down payment and 30-year, 3% fixed-rate mortgage).
Now, the average Hayden home is 1,550sf and costs about $400,000, or $2,100 a month. Shrinking proportions and building more efficiently scaled homes has been a trend for decades in large cities but is now in the suburbs and exurbs. (NY TIMES)