Death of the McMansion-is This Happening in the Triangle? (Raleigh: foreclose, mobile home)

[jperryrocks]

There are still plenty of rich people in the Triangle. Even though the housing market is pretty shady, we are still a lot better off than some areas of the country.

I just moved over to B Creek this past year, and Toll is starting to finish off some of the townhouses that were all but shut down over the last year and a half with the market.

I even see a few new big houses being built over the the BC Country Club.

Toll Bros are pushing higher end ranch homes over in BC now, more in the 350k-400k range. Samller 2000-2500 SF places.

[saturnfan]

Originally Posted by Beermat

pretty good description

Big Mac and Fries, with the fries being the BMW or Mercedes parked on the drive

And all upside down in debt.

Truly wealthy folks don't need to show off. They know their bank balance.

[MikeJaquish]

Originally Posted by saturnfan

And all upside down in debt.

Truly wealthy folks don't need to show off. They know their bank balance.

ALL upside down in debt?
I doubt it.

And, truly wealthy people can do whatever they care to do. That freedom is the definition of "rich."

[NC to Austin]

Originally Posted by saturnfan

Truly wealthy folks don't need to show off.

But they can.

And maybe not all of them are showing off. Maybe they simply are enjoying their money. Better to enjoy it than die wealthier than a dead person needs to be.

[VickiR]

Originally Posted by saturnfan

And all upside down in debt.

Truly wealthy folks don't need to show off. They know their bank balance.

I think you would be surprised at the amount of people that pay cash for their homes and cash for their brand new cars.

Vicki

[wjsluvskaz]

Originally Posted by VickiR

I think you would be surprised at the amount of people that pay cash for their homes and cash for their brand new cars.

Vicki

"bless their hearts"

[VickiR]

Originally Posted by wjsluvskaz

"bless their hearts"

Jealousy just doen't look good on anyone.

Vicki

[jperryrocks]

It's all relative in how you manage your money and what you spend.

Some people are barely squeeking by on $250,000 year income. When you buy a $900,000 house and have a $4000 mortgage, it still takes up 25% of your income.

That puts you in the same boat as the preople why buy a 250,000 house and make 50k a year.

[wjsluvskaz]

Originally Posted by VickiR

Jealousy just doen't look good on anyone.

Vicki

"We may attack ideas (politely) but we do not attack the speaker of the idea."

[RaleighLass]

Here a new CNN article about the demise of McMansions. Median new homes size is 2,135 sq The American home is shrinking - and gaining appliances - Aug. 26, 2010