The McMansion is making a comeback.
At least that’s what CityLab found after drilling down into recently released Census data. Following the 2008 financial crisis the average size of a home in the U.S. started to tumble. But the website found that between 2010 and 2011 the average new home increased by 88 square feet, the largest increase since the 1980s.
But the surge in the size of housing may not be driven by consumer demand and simply the economics of available space.
…the luxury market led construction for new houses during the recovery, so that’s part of it. Wealthy or international buyers who could still acquire mortgages or pay with cash in the aftermath of the credit collapse may have spurred builders to make larger houses. But land scarcity is probably the largest factor.