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When it comes to houses, size matters. But square footage is just one of many dimensions over which American homeowners obsess. Financial writer McGinn peeks through the hedge to discover more about our infatuation with houses. One major factor he identifies is the changing demographics and economics of home ownership. More than two-thirds of Americans are homeowners today and with home values escalating rapidly since 2000, homes have evolved from nests into nest eggs. Beyond the capital involved, houses have always been viewed as status symbols, so there's a tremendous amount of emotion invested in them. McGinn points to the rise of the Home & Garden Television network and shows like PBS's This Old Houseas reflections of our fascination with home ownership. He interviews realtors, contractors, architects, prospective home buyers, and home owners nationwide in various stages of building or renovating to get the real deal on why we're so hopelessly hooked on our homes. Despite the deflating housing market bubble, this book will make good use of prime real estate in public library business collections.
—Carol J. Elsen
Anonymous
Posted April 30, 2008
Daniel McGinn delivers an exceptionally well researched book that is both informative and enjoyable to read. His training as a journalist is significant, as he provides a plethora of facts, stories, and fascinating information. In the introduction, he states his case about why so many Americans have house lust: 1. The High-five Effect: 'From 2001-2006 the average U.S. home rose in value by 56 percent.' With home ownership at 69 percent, we are all rooting this windfall. 2. Our House is Our Retirement Plan: Most of us aren't saving and our homes are our biggest financial investment--so we are very interested in our homes, 3. We Used to Play the Market. During the Boom We Began Playing Our Houses:many of us took out home equity loans or refinanced. 4. It's So Easy to Peek in the Windows: Thanks to the Internet and channels like HGTV, it's now easy to see what other homes are worth and what they look like. We are nosy. 5. You Are Where You Live: Addresses indicate our socio-economic status. In the chapter, 'Mine's Bigger than Yours: Potamac, Maryland,' McGinn writes: 'Living in tight spaces can force people to be choosier about what they'll buy in contrast, people who live in big houses have the freedom of knowing they'll always have space for whatever they'll buy--and some may have credit card statements to prove it.' I was shocked to discover there are now beds that are 10x12 feet to fit into the gigantic bedrooms for McMansions! Details such as the author inviting Susan Susanka (architect and author of Not So Big House) to join him in a tour of one of the Toll Brother's houses in a development is a good example of what made this book such a pleasurable read. (She didn't like the big house.) Here a few more figures that are examples of what makes this book so good: In Japan, the average home is 1,0333 square feet. Only in America and Australia are homes being built that are over 2,000 square feet. On average, new homes built in Sweden, Ireland, Italy, Portugal and the U.K. and less than 1,000 square feet. By the author of the award winning book, Harmonious Environment: Beautify, Detoxify and Energize Your Life, Your Home and Your Planet.
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Overview
A rich narrative that blends social commentary with incisive reporting, House Lust offers an astute, funny, and sometimes disturbing portrait of the behaviors that drove the greatest real estate boom in history—and its eventual bust.Owning a home has long been considered the fulfillment of the American Dream. But in the last decade, as the real estate market boomed, Americans’ fascination with homes turned into a frenzy. Everywhere we turned, people were talking about, scheming over, envying, shopping for, refinancing, or just plain ogling houses—in the process, we’ve transformed ...