• The KillerFrogs

OT - McMansions

Wexahu

Full Member
Do you ever drive through a really awesome neighborhood (say Westover Hills or Monticello) and wonder, "what do those people do for living?"

.... Well, do you any of you know?

I know what those people do, or where their money comes from. It’s the rows and rows of $500-700k houses out in the burbs that I often wonder how are there that many people out there that can afford them.
 

jake102

Active Member
I know what those people do, or where their money comes from. It’s the rows and rows of $500-700k houses out in the burbs that I often wonder how are there that many people out there that can afford them.

Agreed.

Altho I think I’ve figured that out also. If you are dual income both in corporations, it can work.

In regards to the McMansions, one of our close friends has one. He is a commodities trader and she was high level consulting for a big time company for 10 years until quitting to stay at home. They bought their house pretty much in cash at 31.
 

Froggish

Active Member
I’ve lived in a lot of places and it seems to me that the McMansion phenomenon is largely a fly over state plaque. Not that coastal types don’t want big homes, they just seem more content without them.
 

Wexahu

Full Member
I’ve lived in a lot of places and it seems to me that the McMansion phenomenon is largely a fly over state plaque. Not that coastal types don’t want big homes, they just seem more content without them.

Give me a small house on a big lot instead of a big house 10 feet from my neighbors all day long. Never understood why people want a house in which 3-4 rooms go totally unused almost 100% of the time, but I see it a lot.
 

ticketfrog123

Active Member
I know what those people do, or where their money comes from. It’s the rows and rows of $500-700k houses out in the burbs that I often wonder how are there that many people out there that can afford them.

Plot twist: they can’t. They have scary amounts of credit card debt and minimal savings.

2008 is a distant memory.

Potentially also mortgaged with 5% down aka “I can’t afford this but the bank says I can”
 

Dogfrog

Active Member
Some are retired empty nesters who worked hard for 40 years, took their pensions, sold their huge house and lot in the great school district, downsized from 5k sf to 3k sf in the city, and paid cash.
 

McFroggin

Active Member
It comes down to where you want to spend your money.

In looking at income/home cost, most Americans are probably at .20 -.33 or less. I don’t value homes highly beyond a place to sleep/relax, so I’m at around a 1.2. Got a few friends in the 3 arena. Others would rather drive beaters and spend weekends in their home bowling alley, so their numbers are on the low end of feasible.
 

HFrog1999

Member
Many of your neighbors are selling and buying much bigger homes in Texas. Especially north of Austin.

Yeah, I have a friend who made a lot of money on his house in California.

He moved here and bought a 5,000 sf house on 4 acres with a pool and a pond.
 
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