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McMansions Are Back And They're Bigger Than Ever
Zero Hedge ^ | 02 June 2016 | Tyler Durden

Posted on 06/03/2016 11:53:15 AM PDT by Lorianne

There was a small ray of hope just after the Lehman collapse that one of the most lamentable characteristics of US society - the relentless urge to build massive McMansions (funding questions aside) - was fading. Alas, as the Census Bureau confirmed this week, that normalization in the innate American desire for bigger, bigger, bigger not only did not go away but is now back with a bang.

According to just released data, both the median and average size of a new single-family home built in 2015 hit new all time highs of 2,467 and 2,687 square feet, respectively.

And while it is known that in absolute number terms the total number of new home sales is still a fraction of what it was before the crisis, the one strata of new home sales which appears to not only not have been impacted but is openly flourishing once more, are the same McMansions which cater to the New Normal uberwealthy (which incidentally are the same as the Old Normal uberwealthy, only wealthier) and which for many symbolize America's unbridled greed for mega housing no matter the cost.

Not surprisingly, as size has increased so has price: as we reported recently, the median price for sold new single-family homes just hit record a high of $321,100.

(Excerpt) Read more at zerohedge.com ...


TOPICS: Business/Economy; Culture/Society; Government
KEYWORDS: dontfencemein; mcmansions; realestate; trends
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To: VanDeKoik

I agree. It could provide much needed housing without building endless apartment buildings.

However, it is illegal in most cities to build them. Yet you can build a huge house that has 6-10 times the footprint of a small granny flat.


61 posted on 06/03/2016 1:01:39 PM PDT by Lorianne
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To: Lorianne

“the median price for sold new single-family homes just hit record a high of $321,100.”


That is low,very low,in many parts of the country.

.


62 posted on 06/03/2016 1:01:52 PM PDT by Mears
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To: Mears

Yes, and extremely high in other parts of the country.


63 posted on 06/03/2016 1:04:29 PM PDT by Lorianne
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To: Lorianne

To build a house with twice the space only costs about 50% more.


64 posted on 06/03/2016 1:05:52 PM PDT by Brian Griffin
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To: PA Engineer

No no, I am talking about home in basically a desert environment in CA. Millions of 2-story homes in a hot desert environment, where it can stay into the 90s at night. It a no bueno. They built millions of these cheap homes built with illegal labor and foreign contractors. Not a square corner in them.

To pay for the AC and heat in one of those homes takes big dollars, two incomes, secure jobs etc. In fact I had a friend out there living in a single story home and he was paying $325 per month just for an electric bill. That’s it. They lost the home after just 4 years.

They got suckered bad.


65 posted on 06/03/2016 1:05:55 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: Mears

I paid cash for my current two-bedroom home in Florida. I guess those days are over.


66 posted on 06/03/2016 1:06:10 PM PDT by sparklite2 ( "The white man is the Jew of Liberal Fascism." -Jonah Goldberg)
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To: Buckeye McFrog

looks like a caboose


67 posted on 06/03/2016 1:06:22 PM PDT by al baby (Hi Mom yes I know john 3:16)
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To: dragnet2

The Inland Empire. For a time, I commuted through
it from Rialto to Orange. It was two hours each way and basically drove my Jeep Cherokee into the ground.


68 posted on 06/03/2016 1:08:01 PM PDT by sparklite2 ( "The white man is the Jew of Liberal Fascism." -Jonah Goldberg)
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To: Flick Lives

That song always reminds me of a really strange movie.

“The Chumscrubber”

https://www.youtube.com/watch?v=c7Ooid6f0sI


69 posted on 06/03/2016 1:08:08 PM PDT by Zeneta
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To: Rockpile

I don’t like them either but they meet a market niche.

I’d like to think all those people would rather be able to build a small 1000 sf house on a lot instead ... if it were allowable. People used to raise families in 1000 sf houses so it is not something could be out of reach of single people or young couples just starting out. Today’s “starter’ houses start at about 3,000 sf. which seems absurd to me. It keeps so many people in apartments.

A well designed 1000 sf house would always hold its value and always have a market. People are always “starting”.


70 posted on 06/03/2016 1:08:19 PM PDT by Lorianne
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To: Brian Griffin

Depends on the level of quality ... an other factors such as the lot conditions. In any case, people can always add on or move up later. In the meantime they are saving their capital until they need the space.


71 posted on 06/03/2016 1:10:14 PM PDT by Lorianne
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To: Lorianne

“zoning house police”

The zoning size restrictions have to do with trying to make ad valorum taxation fairly fair.

Ad Valorum taxation probably should be replaced by number of rooms taxation to permit tax fairness and to allow a greater mix of household incomes.

An 11-room McMansion might pay $4,400/year in room based taxation, a five-room starter house $2,000/year in room-based taxation.


72 posted on 06/03/2016 1:11:01 PM PDT by Brian Griffin
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To: dragnet2
They got suckered bad.

Ok. I agree. I have seen some of those homes in the Phoenix metro area. I just shook my head. If the lights go out, the life will go out too.
73 posted on 06/03/2016 1:11:45 PM PDT by PA Engineer (Liberate America from the Occupation Media. #2ndAmendmentMatters)
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To: dragnet2

I’m blessed to have a large house It is the only tax write off available to me On holidays and anytime the family wants to get together I can comfortably put up my parents my married children and grandchildren I can afford the heating and AC bills I like my large house and dare anyone to tell me I don’t need it, that I shouldn’t have it or the like. It sits in a neighborhood of similar houses on 1 1/2 acres and is not an eyesore. Not that it’s anyone’s business


74 posted on 06/03/2016 1:11:48 PM PDT by Mom MD
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To: Vigilanteman
Prebuilt garage/sheds in the Pittsburgh area are only around $10,000 for a 14’ x 40’ unit delivered. Highly convertible into a home if you add another $5K or so for the lot and leveling.

And then Allegheny County will assess it for not a penny less than $120,000.


75 posted on 06/03/2016 1:17:22 PM PDT by Buckeye McFrog
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To: Lorianne

My house is a bit under 2000 SF. It was built 100 years ago when families having 8 and 10 children was extremely common. Somehow they made it work.


76 posted on 06/03/2016 1:19:05 PM PDT by Buckeye McFrog
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To: Brian Griffin
Ad Valorum taxation probably should be replaced by number of rooms taxation to permit tax fairness

Do that and "open" floor plans will become all the rage.


77 posted on 06/03/2016 1:20:00 PM PDT by Buckeye McFrog
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To: Vigilanteman

I spend a lot of time in my shed — 10x16 — 160 sq ft with loft, solar powered with A/C, etc. If you’re ever trying to find me look there.


78 posted on 06/03/2016 1:20:45 PM PDT by steve86 (Prophecies of Maelmhaedhoc O'Morgair (Latin form: Malachy))
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To: sparklite2

It’s driven thousands families into the ground too. The poor slobs who couldn’t afford to buy the outrageous prices on the coastal plains of CA had to go way inland just to afford a home.

The brutal commutes alone turned thousands to alcoholism, divorce, etc, and when they lost jobs, downsized etc, they simply detonated.

Trying to imagine commuting 60++ miles, bumper to bumper, one way to work. That’s a recipe for disaster.


79 posted on 06/03/2016 1:20:50 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: Buckeye McFrog
LOL! We were actually surprised to move here more than a decade ago and find that property was more expensive once you got out of Allegheny County. Usually, burbs close to a big city are more expensive than those further away.

Once we discovered the tax situation, however, we opted to pay more to live in Westmoreland County.

The crooks who run our county at least have reasonable standards vs. Allegheny County. They apparently understand that you can shear sheep twice a year but you can only skin them once.

80 posted on 06/03/2016 1:22:33 PM PDT by Vigilanteman (ObaMao: Fake America, Fake Messiah, Fake Black man. How many fakes can you fit into one Zer0?)
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