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Tiny homes gain in popularity: VIDEO

Young people are looking for a cheaper alternative when renting and buying homes

Living large is losing its appeal. Nationally, people are increasingly renting and buying smaller homes.

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Across the country, people are moving into “tiny homes,” which are residences that are between 200 and 800 square feet. It takes a creative mind to make such a small space work, said The Real Deal‘s Hiten Samtani during the Willis Report on Fox Business.

Financially, socially and environmentally, this trend makes sense, Samtani said, as young people have fewer resources to spend on homes.

“This is definitely a national trend,” Samtani said, “and it’s not just a trend for now — it’s here to stay.” [Fox Business] — Claire Moses