McMansion Popularity Re-Emerges, But Not In NJ [AUDIO]
As the economy improves, some homebuilders are noticing a growing comeback in popularity of the McMansion.
The McMansion, you know, big, big house with little ground around?
The National Home Builders Association survey found growing interest in them, but Rutgers trend watcher James Hughes says not in New Jersey – with a few exceptions.
“In well-placed communities with rail access to New York city, some McMansions are being added.”
He says a large baby boom generation may be vacating their McMansion, but the pool of buyers for them is shrinking.
“The demographics are really not in favor of large-scale housing.”
In 2012, the National Association of Home Builders conducted a survey of homebuyer preferences and found that people preferred a median home size of 2,226 square feet, just shy of the Census Bureau’s recently reported median size.
So far that trend has yet to emerge. Even though loan underwriting has gotten a bit easier lately, according to a Federal Reserve survey, home sizes continue to grow.