All you need to do is log on to the Internet, turn on a radio, pick up a newspaper (they still exist, barely), or switch on the cable TV and you’ll hear the bad financial news. It gets worse, of course, for people who are in the housing market. Indeed, assuming we’re lucky enough to be living in a home at all and not badly underwater on our mortgage or facing an imminent foreclosure, we are very likely delaying any thought of moving. Indeed, we may be staying put even as our family doubles in size. Some are even taking on renters as a means of paying household expenses.

That means that household space is at more of a premium than it has ever been in recent times — and that means that any and all means of maximizing space are more popular than ever. Let’s take bedding. More and more of us are going to select a wood loft bed over a more traditional floor-bound model as this type of bed frees up floor space below and may often substitute for another piece of furniture, such as drawers or a computer desk. Bunk beds are another popular item, particularly for growing families or households where multiple offspring have returned after being unable to find good jobs after graduation.

Still, even as you survey your room from the height of your loft beds and contemplate your household use of space, there may be any number of other areas where you are not making the most effective use of what you have. Indeed, many of us have multiple items of furniture that are never used and are simply taking up room that could be applied to some other purpose or might even allow the addition of another rent-paying resident. It’s something you’ll want to keep in mind if the situation doesn’t improve as quickly as we all hope it will.