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> In one example, in Fort Lauderdale, Florida, the extra money that buyers were expected to be willing to pay to own a McMansion fell by 84% from 2012 to 2016.
by transfire 10y ago
> In one example, in Fort Lauderdale, Florida, the extra money that buyers were expected to be willing to pay to own a McMansion fell by 84% from 2012 to 2016. In that same city in 2012, a typical McMansion would be valued at $477,000, about 274% more than the area's other homes. Today, a McMansion would be valued at $611,000, or 190% above the rest of the market.
I love how they think it is only a matter of willingness. Do they realize the cost cited prices out around two-thirds of the population?