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The End of the McMansion?

With the housing market slowing down, home builders are tailoring their home designs to be smaller and less costly. According to MSNBC, relentless downward pricing pressure from a large inventory of preowned and foreclosed homes for sale is driving the trend. Los Angeles-based home builder KB is launching a new line of homes that start at 1,230 square feet and are priced at a little over $200,000, which is quite different from their previous line of homes that featured 3,400 square feet buildings priced at $450,000. Builders are also favoring an open concept where the living room and dining room are joined in one big room, rather than walled off from one another.

Credit: MSNBC article