What’s remarkable about [tag]square foot[/tag] numbers is that while houses are swelling, households are shrinking. In 1978 the average [tag]household[/tag] had 2.81 people, according to the Census Bureau, while in 2003 that same household typically had 2.57 residents.

The 1978 [tag]median priced new home[/tag] was $55,700. In 2005, that home was worth $242,000 using the OFHEO purchase price index of housing prices. That index compares the sales prices of the same home across time, so there is no size or quality bias. The median sales price of a new home built in 2005 was $240,900. As you can see, the prices of both new and existing homes has risen without regard to home size.

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