As large McMansions move into suburban areas, many of the smaller older houses are being pushed out of the neighborhood by higher taxes, or by demolition to make room for larger homes.
Larger homes are moving into suburban neighborhoods, and displacing many of the traditionally small single-family residences. The quaint and modestly-sized results of the post-war housing boom of the middle of the 20th century are being replaced by a new boom: McMansions. These newer, larger homes dwarf the remaining original homes in many suburban neighborhoods, raising long-time residents' taxes to almost unbearable heights. But there is also the side-effect of increased property value, which is a plus to many homeowners who may be forced to sell their small single-family homes as taxes continue to increase.
"Tony and Leona Laouras have lived in a modest ranch home on a half-acre in west Highland Park for 20 years. They have watched six homes with an average of about 4,500 square feet go up on their block in the past six years."
"Since then, the Laourases have seen home prices on their street rise to the million-dollar range. 'The one negative is that my taxes keep going up,' Tony Laouras said, indicating that his taxes are more than $10,000 and rising."
FULL STORY: McMansion envy
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