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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: regli who wrote (26331)	3/25/2005 5:31:55 PM
From: XBrit	Read Replies (1) of 116555

Also in the Bay Area, the amazing McMansion-ette developments go to new extremes every day. As I look out of my home office window right now, I see a 200-foot long, 40-foot high hanging sheet, 20 feet from the window. Behind it, stucco is being sprayed on. The development involved teardown of an old single-family on 1/4 acres, and replacing it with 6 duplexes. Each approx 2800 square feet. There is literally not a square inch of the lot which is not used. The non-built space is a legal setback of 10 feet, a driveway with no room for any landscaping, and about 6 feet between the units. It is seriously oppressive. Our 1600 sq ft townhouse is valued at $630k right now, so I assume the 6 McMansion-ettes will go for around $900k. Property taxes $900/month (I'm paying $250/mo, bought 12 years ago). And I bet they'll sell out in 2 weeks.

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