Big corporations are buying up homes and “eroding the American dream of homeownership

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Originally Posted by Crawford

Safety and schools are almost always better in the established suburbs as opposed to the McMansion suburbs. Schools are generally vastly better.

Cost is obviously lower on the fringe, but my confusion is why high-income people (i.e. people with options and not forced into location based on home price constraints) often choose a giant home in a cornfield. Makes little sense, to me, unless they only care about having as big a home as possible. I just don't understand how there's added utility beyond a certain size.

And I don't agree that these are the only factors. People consider proximity to employment, amenities, family & friends, municipal services, etc.

I didnt say they were the only reasons but they're definitely top reasons. distance from jobs is another although less so in the WFH world we're in now as people are more open to living further away if commuting 0-3 days a week. Not sure the exact reasons why real high income people buy land like that, but I'd bet it is for the same reason why people moved to the suburbs and that's safety and more space. It's why wealthy Philadelphians had a house in Philly and a country home on the Main Line for example. Some have hobbies they can't do in the city but can on their own land. Having a big house on a big yard is probably a huge flex for folks too on top of those things (hello Biltmore).

Originally Posted by mhays

Agreed...beyond a certain size space is a problem. You have to heat it and maybe cool it. It has to be vacuumed and kept in repair. And it would feel so empty. And that giant yard might take constant maintenance. I wouldn't want a house period (seeing the vast money and time friends and family put into theirs), but a big house sounds so much worse.

true but if a big part of your house is empty then it doesnt need to be cleaned as often (say if you have a guest living area vs someone living there full time).

and a giant yard doesnt have to be constant maintenance, but even maintaining it can be a form of relaxation. plus what if people have medium to large dogs? A big yard makes a lot of sense then. No amount of walking will mimic having a big yard for a dog, especially since dogs living with big yards can go for walks too.