The housing market appears to be on a never-ending downward spiral, with the much-discussed "recovery" always around the next corner.
The reasons that such a recovery is impossible at the moment should be obvious: millions of people do not have jobs; millions of others work only part time; millions more work fulltime but make very little money; and additional millions fear losing their jobs.
Under these circumstances, there can be no recovery in the housing market, which will continue to contribute to the broader depression-like economy in the U.S.
They’ve been called McMansions, Starter Castles, Garage Mahals and Faux Chateaus but here’s the latest thing you can call them — History.
Just 9 percent of the people surveyed by Trulia said their ideal home size was over 3,200 square feet. Meanwhile, more than one-third said their ideal size was under 2,000 feet.
“That’s something that would’ve been unbelievable just a few years back,” said Pete Flint, CEO and co-founder of Trulia. “Americans are moving away from McMansions.”