The changes in the U.S. economy since the real estate bubble blew up and then exploded in the crash of October 2008 have brought a transformation in the way many people are living their lives. Though it’s been a highly stressful time for many people, some of the changes may actually be welcome ones. If not utterly welcome, they are at least, well, interesting.
During the last thirty years, the boom and bust cycles (or “recession and recovery” as it is often referred to by government officials) in our economy have seen many people invest more and more of their life savings in homes. Real estate has been the be-all end-all of investment in many quarters, with run ups in prices during the boom times so high, it’s been nearly impossible to resist buying into the real estate rush.
Image via Wikipedia
Along with the run-up in prices has come a run-up in home sizes, with modest homes built in earlier decades being torn down or remodeled into “McMansions” – mini mansions that were frankly outsized and often an eyesore in suburban neighborhoods.
Since the crash and ensuing recession, many people have been forced to downsize, however, as homes have fallen into foreclosure due to job loss and mortgage problems. For some, the solution has been to turn the page and invest in a simpler lifestyle, by renting instead of buying a property, or in some cases, leaving it all behind and living in a mobile home or trailer, or even a specially designed “tiny house,” measuring less than 200 square feet.
Downsizing to a tiny trailer or mobile home is a dramatic change for some, but for many people, living simply is becoming increasingly alluring as a simpler way to live.
More simplicity, less stress. Not a bad idea, is it?
