Oklahoma State Home Builders Association

An Affiliate of the National Home Builders Association

Chicago Tribune: The McMansion's Day has come and gone

 
Posted on September 21, 2016
Eye on Housing
 
By Gail MarksJarvis
Copyright © 2016, Chicago Tribune
 
McMansionThe McMansion style, built between 2001 and 2007 and averaging 3,000 to 5,000 square feet, lacks appeal with today's buyers compared with old vintage homes or large freshly built homes. 
 
The realization is especially hard on homeowners trying to sell because when they bought the giant homes in the early 2000s, they thought of them as great investments, Feinstein said.
 
Then, the idea was that bigger was better because prices presumably would keep going up.
 
Now, housing analysts say the day of the McMansion has come and gone. An analysis just completed by Trulia shows that the amount buyers are willing to pay for McMansions over other homes has fallen 26 percent in just four years. As homes in general have been regaining value, McMansions have been losing ... Read the article at the Chicago Tribune website
 
Share and Enjoy :