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If You Got It, Don’t Flaunt It

Gold bars

Having a certain amount of money — and we mean a certain large amount — insulates the rich from the hardships suffered by the poor. The rich have been doing quite well since the end of the Great Recession. But they’re trying not to flaunt their wealth. The divide between the rich and poor is getting so large that, well,  if you’re rich, you can’t be too careful these days.

Luxury homes — let’s call them  mansions — have shrunk in size. It’s hard to believe, but Laurie Moore-Moore of the Institute for Luxury Home Marketing, says there’s a trend toward smaller mansions. Biggies in the fifteen to twenty thousand square foot range are becoming hard to sell.

In case you don’t know square footage, the average American home grewHouse size average US from 983 square feet in 1950 to 2,349 square feet in 2004.   As you rise above 2,349 square feet, you come first to what’s sometimes called a McMansion, and only if you continue to rise and get real interior acreage do you come to the true mansion. The McMansion is simply a bloated dwelling with an exterior style which mimics a French chateau or an Italian villa, whereas the true mansion looks more like an exclusive hotel. A true mansion would have, or used to have, eight or nine times the square footage of the average dwelling.

But for the rich, the new, post-recession size is smaller, around five thousand to seven thousand square feet. Modesty has become important to the wealthy. In terms of square footage, anyway. It turns out that the inside of these smaller mansions are packed with more luxuries. After all, you have to do something with that money, you can’t just give it away.

More Notes

The World Happiness Report, released by the United Nations, ranks countries on six key variables that support well-being: income, freedom, trust, healthy life expectancy, social support and generosity. This year, Finland is first, followed by Norway, Denmark, Iceland and Switzerland, followed by Netherlands, Canada,New Zealand, Sweden, Australia. The United States, which has never been in the top ten, silpped down four places from last year and is now 18th. President Trump may make American Great Again, but apparently not happier.