Saw this recent data dump on the car purchases made in 2009 and 2010 by Gen Y buyers http://yhoo.it/nZaghd and though not one to take the "fear" side of the argument, in that decision makers in Detroit need to fear for their future, the parallels to what we see in housing preferences are solid.
Gen Y prefers smaller, less expensive (and that translates in more cases than not into foreign) cars. In our customer research on home shoppers in America we see the same thing - they tell us they want smaller houses, less expensive houses, but houses that are all about style and living the way they want to live.
Who's out there NOT saying to themselves, "When will it come back to the good old days? When will this economic shift get behind us and we can get back to building bigger homes, more of this and that? We know this is just a cycle and it will swing around again."
Those leaders and industries who are NOT looking in the rear view mirror and longing for a tired and irrelevant past will benefit from this forever-changed world. What a cool opportunity. Bring it on!