The Wall Street Journal has an interesting article debating the fate of McMansions in America. Once the rage, they've now fallen out of favor. A recent survey shows average square footage of American homes declined from 2,629 to 2,335 from the second quarter of 2008 to the first quarter of 2009. Many fault the recession and some predict once it has passed home sizes will "stabilize" at around 2,500 square feet over the next five years. What do you think?
My experience as a new home designer over the past 20 or so years is that as interest rates fell, square footage went up...but sadly the quality of most new homes went down. Size, 18' high family rooms, oh pardon me, Great rooms, and a whirlpool in every master bath were the desired features paid for largly with lesser quality materials and workmanship.