A story in the New York Times, which you can find here, gives me hope that McMansion mania is finally petering out. According to the Times, the demand for ultra-large homes in New Jersey — where such homes have long ruled the market — seems to be waning. The Times isn’t sure if this is a longterm or a shortterm thing. But it does give me hope.
BusinessWeek recently ran an interesting story about homeowners who are paying a whopping 50 percent — or more — of their monthly incomes on mortgage and other housing payments. You can read the story here.
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