All those new Facebook millionaries won’t be buying McMansions

As Facebook prepares its IPO, you might not have considered how it would affect the real estate market in Silicon Valley:

Typically clients pay cash for the homes, he said, which can range anywhere from 4,000 to 15,000 square feet (372 to 1,393 square meters) depending on the size of the family.

Real estate agent Dawn Thomas said she is already seeing home prices rise in areas surrounding Facebook’s Menlo Park headquarters and expects that to continue…

Thomas described her tech-savvy homebuyers as “very, very green-minded” and in search of smaller, tech-equipped, energy-efficient homes with high-end amenities.

“They don’t want ‘McMansions,'” she said, referring to super-sized houses that can gobble up energy.

The implication: the young and wealthy wouldn’t be caught dead buying a home that could be considered a McMansion. If the home is indeed big, and I would say 4,000 square feet is McMansion territory and 15,000 square feet is a just a plain mansion, it has to be green and energy-efficient. Is this the same argument that Gisele Bunchen tried to make recently?

This makes me think that we might need a new term to describe an abnormally large home that is intentionally not a McMansion. A “green home” or “eco-home” doesn’t cut it because these homes are still much larger than the average size of the new American home (around 2,400 square feet). A “greenwashed mansion” but be more accurate but I don’t think these tech-savvy buyers would like the connotations of this term either. Playing off the “Not So Big House,” how about the “not so polluting house”?

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