[A smallish 9,500 square foot home from Joe & Co; Photo courtesy Farrell Building]
Ahh, the McMansion. The driving force behind much of the Hamptons building boom in recent pre-recession years seems to be on the decline. The Wall Street Journal's June Fletcher reports this week that the McMansion is a thing of the past, citing a survey of 500 architects showing that only 4% of their clients wanted more square footage in their homes this year, compared to 16% last year; and, a number of builders stating the intention to work on smaller homes. We are downsizing, America, as first-time home buyers and empty nesters rule the market. Fletcher doesn't seem too concerned about the ultimate fate of the McManse, assuring us that bigger will always be better in America. Post-recession, those first-timers should move right on up into a giant house they can call home. Joe Farrell and his 15,000 square footers will be waiting.
· McMansions Out of Favor, for Now [HREB via WSJ]