Published at Thursday, April 11th, 2019 - 03:31:32 AM. Home Decoration. By Adal Meier.
The amount of money Americans spend to keep their pets happy is also on the rise. In 2015, pet owners spent almost $61 billion on food, toys, furnishings, and other pet goods, a 25 percent jump from five years before, according to APPA. Data from the U.S. Bureau of Labor Statistics and other sources seems to suggest that this type of spending is more resistant to economic shifts, such as the recent recession. And theres reason to believe demographics will support this trend long-term, particularly as pet-centric millennials move into homes. Last year, a story in Adweek suggested the fact that many millennials see pets as “starter children” offers an opportunity for brands.
Why its happening: Affordability is in great demand, with rising home prices and a shortage of desirable downtown locations. “Whats needed is more dense land planning, common outdoor space, greater acceptance of attached homes, and sometimes doing without a garage,” says architect Bill Ramsey with KTGY Architecture and Plannings Denver office. Whats considered livable yet affordable often needs to be larger than tiny homes, most of which are less than 500 square feet. John Hunt, president of Atlanta-based MarketNsight, a research firm focused on the building industry, thinks theres a more viable option: microhouses, which range from 500 to 1,000 square feet. They fit community codes for permanent housing, unlike tiny homes that often must be built atop trailers due to their modest square footage. Microhouses also offer equity, unlike rental microapartments. They can be constructed as narrow townhouses or as a one-story, single-family designs. Home builder Jim Chapman Jr. recently received approval from the city of East Point outside Atlanta for 40 microhouses, each between 500 and 1,000 square feet on a 7.69-acre historic downtown site. Prices will start in the high $100,000s.
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