(Atlanta)

In what may come as a worrying sing for older Americans, anecdotal evidence is showing that it may be luxury real estate that is hit hardest as the property market slows. The reason why is that there is a glut of huge houses that no longer suit buyers. In particular, Sun Belt areas are replete with years worth of high end inventory that just isn’t moving. In the early 2000s, Baby Boomers built many large five and six bedroom homes where they planned to live out their golden years, yet tastes have changed, as have living conditions, and few want those kind of homes now.

FINSUM: It is not just the size and expense of upkeep that are problems, but many of these are built 15-20 minutes outside of town, which is not nearly as appealing to buyers as it was 15 years ago.