The American dream about home has modified. Suppressed by the housing market crisis, mid-class Americans want another kind of home nowadays. The 10,000 square-feet McMansion, with its 8 bedrooms and 5 bathrooms is out. A more sensible housing solution is in.
The median size of new houses lessened by approximately 5 percent from 2007 to 2010 and much more fewer mega-homes are being constructed. The quantity of 4,000 square-feet housing units or larger built in 2010 dropped to 35,000 from above 120,000 in 2007.
Of course, a number of Americans still dream about purchasing flamboyant lodgings – like Jennifer Aniston’s $42 million house – but then reasonableness sets in: these days, the existing dream home is a family-friendly lodging with 4 bedrooms, 2 bathrooms and of 2,200 square feet.
However what you actually pay for these more down to earth residences may change significantly depending on place you live. The Home Listing Report for 2011 compared median home prices in 2,300 towns and cities across North America. The repot concluded that you can buy a 4-bedroom home in Lithonia, Georgia, at a median price of $80,000, but for a similar-sized lodging in Newport Beach, California you will pay $2.5 million on the average.
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