Some Big Homes Are Having Trouble Selling
Like anything else, residential architecture is affected by the popular trends of the day. But unlike most other things, homes last a very long time. So houses built to fit the lifestyle of people living in the 1940s and '50s are still being bought and sold in 2019. Now, in most cases, an older home's quirks are considered charming or even sought after by buyers. But what about homes whose time period is unpopular? Well, according to one recent article, this can be a problem. For example, in the early 2000s, mini-mansions were the fad and baby boomers – with easy access to credit – built huge houses intending to live out their retirement in dream homes equipped with all of the day's most popular features. But now, those homes are beginning to hit the market and are having trouble selling. Why? For one, today's buyers prefer smaller more modern homes rather than the lavish, ornate styles popular earlier this century. Another problem is the size. Since they are big and located in desirable areas, these homes are expensive and, in most cases, too expensive for most buyers. Unfortunately, it looks like the problem will grow, as baby boomer homeowners grow older and look to sell their current homes in favor of downsizing. More here.