Housing Trends for 2017
For better or worse, 2016 was a year of dramatic changes in nearly every level of society. Due to some impressive innovations and cultural changes, the housing market may experience some turbulence in 2017 and beyond. These new housing trends may seem as if they have been pulled from a futuristic novel, but they are real. This ‘future’ is now.
Apartment Living Has Been Redefined
After years of expensive rent payments and troublesome housing shortages, the apartment market has adjusted to the needs of tenants. In New York City, Chicago, and other major metropolitan areas, micro-apartments are becoming quite popular. Ranging from 250 to 365 square-feet, these tiny urban homes offer basic utilities and living spaces for a fraction of the price of traditional apartments. Families are unlikely to move into these micro-apartments, but singles may help the market grow.
The Roommate Gamble is Over
The old methods of finding roommates may also be meeting their ends soon. A movement known is Co-Living is slowly becoming attractive to Millennials all over the country. Co-Living uses events and background checks to find safe and compatible matches for a searcher. Before moving into a living space, potential roommates are required to attend dinners and other social events with Co-Living groups. This helps like-minded individuals become roommates and close friends. If this trend continues, young people may be able to cut the costs of apartment living. This means that the demand for rental housing may grow in the future.
Innovative Housing Options are Coming
Due to a combination of ingenuity and engineering breakthroughs, the buildings of the past are no longer the only housing options on the market. Modular homes are quickly becoming affordable options for people across the country. These modular homes are manufactured in a one-size-fits-all manner before they are shipped to the buyer. Each module can be stacked to create an apartment building, or they can stand independently on a piece of land.
The construction process of individual homes is also transforming. With 3-D printers, builders can quickly erect buildings quickly and affordably. The technology is still evolving, but multi-story buildings have already been created with 3-D printers. This may be one of the most promising housing trends of the decade.
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