US Housing Market Hit by Shrinkflation
Posted on AllSides September 9th, 2024
From The Center
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...
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