McMansions lose popularity among homeowners, but interest businesses

Looks like demand has slowed for McMansions, those behemoth homes that run 4,000 square feet and up. The economy has caused many folks to avoid buying these homes, which often have huge utility bills and a lot of upkeep.

So what's happening to all those homes that often feature more than one master suite, huge spa-like bathrooms, wine cellars, home theaters, and other goodies? In some cases, these homes are being converted for use as businesses, according to an article in Time magazine. For instance, a San Diego home will be used to house autistic adults and a Seattle group shoots movies and houses its members in one of these homes.

Some families who still live in these massive homes are renting out rooms to make their mortgage payments. Others may be likely to invite extended family members to move in so they can all share the household expenses. People who still aspire to living in a large home are likely to score some excellent deals since housing prices have dropped so much.

What do you think? Would you still be willing to buy a McMansion?