McMansions Are Making a Comeback
According to a CNNMoney report, a recovering economy is rekindling America’s love affair with oversized homes. Americans downsized their homes by 6 percent over the course of two years during the height of the recession. The average home size during that time was 2,135 square feet.
Experts thought that the new trend in home buying was for smaller homes, especially with baby boomers, whose children were grown, and people who wanted to be closer to urban areas. But that wasn’t really the case at all. People weren’t downsizing because they wanted to; they were doing so because they couldn’t afford anything bigger.
The availability of credit and low interest rates are making it possible for people to get more of what they want, and home builders are responding. Consequently, McMansions are making a comeback. As long as the economy continues to strengthen, would-be home buyers will continue to want as much space as their money will buy.
Contact the Zwahlen Team for information about all of the luxury properties for sale in the Danville, California area.