US Housing Market Hit by Shrinkflation

Shrinkflation is hitting American homebuyers hard, especially in the South, as a recent study found people are now paying more for smaller properties.

An analysis conducted by USA Today/Homefront using data from Realtor.com found that the median American home is now 128 square feet smaller than five years ago, and yet it costs $125,000 more.

Shrinkflation, by definition, is what happens when companies reduce a product's amount or volume per unit without changing its retail price. The concept evokes images of candy bars sneakily getting smaller over the years, or bags of chips and cereal...