How much home is too much?

Mood of the Market

Of the big, wide, wonderful world of real estate, lately I’ve been watching one key element, a specific spectrum on which consumer preferences seem to be crawling out to the extremes. The bell curve seems to be flipping upside down when it comes to housing customization.

For instance, last week, I read a story about a filmmaker who recently closed escrow on an $8 million house — with plans to tear it down and build a $20 million home in its place!

I’m guessing that the rationale is that the lot is that desirable, although that seems like a big old stretch in logic when you draw it to its logical conclusion that no other lot in America priced at below $8 million would do.