One outcome of the declining real estate market has been a move to building and offering smaller homes. It was a trend that had been suspected but earlier this year the statistics were announced that back it up. The average size of homes started in the third quarter of 2008 was 2,438 square feet, down from 2,629 square feet in the second quarter, according to the U.S. Census Bureau.1
Many consumers are looking for smaller digs for a variety of reasons. Some have made a philosophical shift considering a move to a smaller living space less of a down-sizing and more of a right-sizing decision. They choose to use less of the earth’s resources.
Others have made the switch for demographic reasons:
- The 80 million-strong Generation Y, the so-called “millennials,” want to live in exciting urban settings, are interested in value engineering, and consider smaller living spaces acceptable.2 Urban lofts are hits in cities less populated than New York City or San Francisco– including Louisville, Kentucky; Des Moines, Iowa; and Spokane, Washington, to name just a few.
- Aging baby boomers are selling their larger homes and trading them for more convenient patio homes, one or two bedroom homes or condos in communities where shared fees pay for property and landscape maintenance.
“Regardless of why a consumer decides to live in a smaller space, there is no reason to lose upscale features in the furnishings within that space – especially appliances,” noted Marc Hottenroth, Industrial Design Leader for GE Consumer & Industrial.
“Both GE Profile™ and Monogram® lines also offer selections that are perfect for the empty-nester who is moving to a smaller home or condo,” said Hottenroth. Monogram was the first GE product line to introduce undercounter refrigerator modules including wine reserve, double drawer refrigerator, beverage centers, fresh food refrigerator or bar refrigerator with ice maker. In addition Monogram offers a slim 18-inch wide dishwasher with stainless steel door or personalized with customer-supplied cabinet-compatible panel. Both models provide effective, yet quiet cleaning power with a five-level wash system and hidden, integrated electronic. The new Monogram 30-inch chimney hoods with sophisticated bold angles and lines, all hand-finished to seamless perfection, provide powerful venting and a striking focal point that elevates small-scale kitchens into grand statements.
Choose the Profile single double oven wall oven or free-standing range, and, in the same space occupied by a standard free-standing range or wall oven, consumers can have 6.6 cu. ft. of combined oven space. The two ovens can be operated at two different temperatures — up to 450 degrees. That’s twice as much cooking for the same amount of space.