| January 30, 2008 |
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Here's a quick quiz that should really hit home. While on vacation, do you stare in storefront windows at real estate listings? Are the websites Zillow.com, Trulia.com, and Propertyshark.com at the top of your Web browser bookmark list? Can you name the hosts of TV shows: "This Old House" or "Extreme Makeover: Home Edition"? If you are nodding your head "yes" to those questions and others there's a good chance you suffer something called "house lust," a fetish-like preoccupation with everything real estate. House lust has become as American as apple pie, says Daniel McGinn, a Boston-based national correspondent for Newsweek. He ought to know. He wrote the book on the subject: "House Lust: America's Obsession With Our Homes" (Random House, $24.95). McGinn's research indicates house lust gets some of the blame for the last housing boom-to-bust cycle because the distinctly-American addiction caused many buyers to overdose on more house than they could afford. Easy mortgage money made it affordable to carry a monkey on your back. McGinn says instead of taking the pragmatic roof-over-your-head approach to housing, Americans have become emotional infants about shelter. They envy, scheme over, bellyache about and ogle homes they can't have and probably don't need. Called a "mania for homes" house lust reached fever pitch during the last boom when supersized trophy homes, second, third and fourth homes, household-disrupting renovations, over bidding, and the fascination with real estate websites and TV programming reached "obscene" levels, says McGinn. Even professionals left tenured careers to rush off and join the army of real estate agents. McGinn, who explores the seven deadly sins of house lust in his book, conducted research during sleep-overs in models homes, at real estate investment seminars and by obtaining his real estate license in a single weekend. Is the housing bust creating withdrawal symptoms? No, says McGinn. The possibility of more house lust euphoria trumps any temporary pain caused by the housing crunch. Here's what McGinn's research uncovered.
Disclaimer: The writer of this article also has house lust. His dream home is a real, newly built, masonry, commercial loft, with a California ocean view. Yes, an unstable structure built on unstable sand in unstable Earthquake Country. It would have to be an engineering marvel. But he has to have it. |
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