• Real Estate News

    So Much for Downsizing

    A recent study by Bank of America Merrill Lynch found that nearly one-third of Baby Boomers and seniors are choosing to buy larger homes in retirement instead of downsizing. The report seems to point to an interest in larger home specifically that have extra bedrooms. One-third of retirees surveyed say a top reason they wanted to upsize was to have a home large enough for family members to visit. When adult children, grandchildren, and other family members are scattered around the country, the homes of retirees tend to function as a meeting place for extended families, particularly during holidays or summer vacations. Some retirees may be looking for something more…

  • Building

    New Homes Get Supersized

    The median size of a completed new home last year bloomed to a new record – 2,415 square feet, according to the Commerce Department. But will the supersize trend stick? During the recession, home sizes got smaller as builders downsized new homes to compete with the flood of discounted foreclosures on the market. The downsizing trend had some housing analysts believe it would be a lasting one, lingering long after the recession. “All the pundits said ‘the McMansion is dead,’” Douglas Yearley, chief executive of Toll Brothers Inc., a luxury home builder, told investors last fall. “But the American dream is still to chase the big beautiful home with the…