My favorite colors present in interior are grey and earth tone color combined with white. So my modern living room will definitely this color palette. I love scandinavian style of designing with big windows and not to vivid colors. I respect Karim Rashid and I admire his work but I could not have whole place in his tipical vivid colors.
Here is an example of two modern living rooms. On the first pciture nice white scandinavian style lamp goes great with glass coffee table and grey sofa. Place is not to crowded and relaxing for your eyes. On the second picture you can see how big windows make room so much better. I would use curtains just for decorative purpose. Furniture is in this year very trendy oak and white colors combined whit nice sofa and carpet.
Colorful living rooms can be also nice and with very ”Homy” feeling. My advice is to use pastel colors and with big chunk of white color in between.
