LA Times Story on Trend Toward Smaller Homes Quotes Jeff Mezger '77
May 26, 2009
May 26, 2009, Greencastle, Ind. — A Los Angeles Times story today reports that "as the economy has contracted, so have the homes." The piece, which quotes 1977 DePauw University graduate Jeffrey T. Mezger, notes, "The National Assn. of Home Builders recently surveyed its members and found 90% of them are building smaller now," including KB Home, which Mezger leads as president and CEO.
"Homes must change with the times," Mezger is quoted as saying.
Nicholas Riccardi writes, "Though the square footage of new houses tends to dip modestly in recessions, the size of the American home has essentially increased since 1973. But that changed last year, when the size of the typical house suddenly shrunk by 11%. That appears to be faster than at any time since the 1970s ... Developers cite many factors: increased energy consciousness, empty-nest baby boomers looking to downsize. But the strongest motivator is clearly the sagging economy."
You'll find the complete text at the Times' Web site.
Learn more about Jeff Mezger in this recent article.Back