Latest Victim of the Housing Market: McMansions

In 2005, Ahmad Hamadanian and his wife, Mitra, bought a new 5,600-square-foot home in Stone Canyon Preserve, a luxury development in Claremont, Calif. They paid more than $1 million for the stucco mansion with five bedrooms and 5½ baths. In a few years, they figured, they could sell the house and make a bundle of cash in the rising real estate market. "We thought it would be all right," Ahmad said. Derisively nicknamed "McMansions," these mass-produced luxury homes fueled the real estate...Full Story
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