News Update: Death of the 'McMansion': Era of Huge Homes Is Over August 19, 2010

According to a survey conducted by Trulia, Americans are moving away from McMansions. Just 9 percent of those surveyed said their ideal home size was over 3,200 square feet, while more than one-third said their ideal size was under 2,000 square feet.
In a survey of homebuilders last year, nine out of 10 said they planned to build smaller or lower-priced homes. Many in the real estate business believe this downsizing trend is here to stay.
CEO and co-founder of Trulia, Pete Flint, said, "This is absolutely a long-term effect. Think of families with small children who've been foreclosed upon ... When these teenagers are in a position to buy a home, they won't want to go through these experiences they saw their parents go through."

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