Numerous outlets are sounding a similar theme: Death Knell Tolling for McMansions. Most of this seems to be based on one recent study that said the cost premium McMansions used to command has declined. Does this mean McMansions are in decline? Not necessarily. There are many ways this could turn out including:
- McMansions are still built and bought and sold. Even if they don’t command as much money as before, they still might be profitable.
- Over the coming years, fewer McMansions are built and the ones that are constructed are primarily in thriving communities (lots of money as well as population growth).
- Regardless of whether #1 or #2 happen, there are plenty of existing McMansions. They could go (1) like many other older American homes – altered, remodeled, passed from groups to groups; or (2) they are so undesirable or shoddy that they are replaced by other housing options. The second option is hard to imagine; plenty of postwar houses are still in existence and it would be costly to destroy a lot of housing units.
Even if fewer McMansions are constructed in the future, they aren’t simply going away. Some McMansions will be around for 50+ years.