I think efficient housing is the way of the future, and if done well you do not
need to sacrifice much, and can actual gain by living simpler, and saving
money. Micro efficient housing also should allow one to live by themselves,
rather than with roommates, so a greater sense of privacy.
This page has a ton of ideas.
Inside the mobile home park business
The People's Architect: Upcoming Retrospective of Moshe Safdie Shows Architect's Global Vision
Rural Studio builds brand new $20,000 houses in Alabama
MIT Media Lab CityHome: What if 200 ft2 could be 3x larger?