Too many 6000 square foot houses

I am surprised that there are almost no articles (I haven't found one yet) that talks about the high inventory of 5000+ square foot houses. Sometimes there are mentions of "affordable" housing but that's not al that matters - a 2000 sq ft house on Malibu beach is going to be very expensive to maintain.

The problem I see is that there are way too many large mcmansions out there. I don't understand why anyone is buying these up in California - even at half price. There isn't going to be a good market for them for a long, long time.

As one blogger write houses aren't supposed to be a speculative purchase, it's a place to live. Why would anyone buy a mcmansion to live in? A 6000 sq ft house (with pool, fountains, gardens, etc.) is going to be very expensive to maintain. The total cost of ownership is very high.

Even if you buy a forclosure at half price (say $500K instead of $1 million) you are going to have to dish out serious money for maintenance, utilities, taxes, etc. Recurring costs will kill you.

And then who are you going to sell it to? Less than 20% of Americans make over $100K today - and large percentage of them are not going to be looking to buy a house. So if anyone is buying these houses on a speculative basis then they are going to be stuck - there just isn't much of a market for $500K houses.

So what do we do with all these mcmansions? I'm not sure. But I am definitely not going to buy one - even if it seems to be "bargain" because it isn't.

I don't see the government or private industry addressing the issue. Most people can't afford to maintain a 5000+ sq ft house let alone buy one. Trying to prop up the ridiculous situation is only going to make matters worse.

I think eventually we will see entire neigborhoods of these new mcmansions bulldozed down (especially after many rot away regardless of what the government does).

Nothing coming out of Washington DC is making any sense with regards to housing. It's going to be a horrible mess. Nothing is getting fixed at all.