We are just at the VERY beginning of the scaling back process. With the country losing jobs like crazy right now, people who want to scale back might not even be able to because they are just trying to cling to what they have right now. Think about all those MILLIONS of people who moved to the Sun Belt over the last decade and bought those energy sucking houses in the deserts of Phoenix, Las Vegas, etc. Many of them are trapped. Their houses are worth half, their electricity costs are through the roof and they now find themselves in cities which were born of the notion that bigger is better. We don't hear about the shift as much yet, because those people aren't yet packing up in any serious numbers (my few friends aside) because they are just trying to figure out what comes next. I guarantee you though, that a lot of people feel trapped right now in a lifestyle which they now realize is not sustainable for the long run. It won't be until the economy turns around that many of these same people will be able to do anything about it though. This is not a blip, I don't think. This is an earth shattering tectonic plate shift that will reshape the way people view their lives all over the world. I think so anyway. I also think that it's necessary, and will ultimately be a great thing for the human race.
— by 11217 in Brooklyn Rental Market More Stable Than Manhattan
