Luxury market’s ticking time bomb: If this were a virus, you would call it a full-blown epidemic | Bedford Real Estate

 

There is a ticking time bomb hidden in the top end of the housing market that I don’t see the mainstream media addressing. And this is no hidden bomb — it is glaringly obvious and sitting right out in the open.

McMansions image via Shutterstock.

The question is not, “Will it blow up?” The simple question is, “What will the fallout be when it does explode?”

Do we still love our McMansions?

This is not a Tallahassee problem — this is a U.S. housing market issue that will be felt in most areas. Only the highest-growth, strongest economic areas of our country will be shielded from the blast when it occurs.

We have built too many McMansions; too many homes for an upper 10 percent of the market that is going to change dramatically when the trigger point is reached. As with any time bomb, you have to wonder just what is needed to make it explode.

 

 

read more…

 

 

http://www.inman.com/next/luxury-markets-ticking-time-bomb-if-this-were-a-virus-you-would-call-it-a-full-blown-epidemic/?utm_source=20140519&utm_medium=email&utm_campaign=dailyheadlinespm