By Hamilton Nolan, 5:51 PM on Tue Nov 18 2008, 4,847 views (Edit, to draft, Top, Slurp)

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You'd think that in these hard times more people would be scaling down to cottages, but no. Time Inc. just announced to its staff that Cottage Living—which had a rate base of 1 million(!)—is folding. The website will also die. According to an internal memo, "the economy inhibited its ability to grow and therefore, sadly, we had to make the decision to close it." Sad for cottage-livers. More sad for the apartment-living employees.