If anything good comes from the meltdown, it's the end of the McMansions. According to this article, modest homes in established neighborhoods may once again be safe from McMansionization with the collapse of the market for giant buildings to house giant egos. There are silver linings.
With my house at just under 1100 square feet, I confess I'd like a little more space. I'd love a laundry room instead of a washer and dryer alongside the deck. I'd like a home office that didn't double as a guest room. I'd like a linen closet and a butler's pantry.
But then I'd be spoiled. My house started its life at half its current size. It had a nice little backyard that was eaten up by the addition of a second bathroom and a second kitchen (when the house was duplexified.) I suppose it was the McMansionization of its day. And I confess that I have benefited from the sins of the past. We would never have bought this house at its former size - with one bedroom and one bath, smaller than our former apartment. While the cosmetic flaws were disastrous, it was the size of the second kitchen and its potential to become a decent master bedroom that sold us. Plus, there was the lure of the second bathroom, a rarity in homes this age of comparable size.
So, there are silver linings.
Now I have to go watch HGTV. My Big Amazing Renovation is on.