Somehow, I don’t consider the size of other people’s houses to be any of my business. I’m not the one paying for them or paying the property taxes every year.
In the end, it is no one else’s business. But it’s sad when a beautiful, older house is torn down - one that suits the neighborhood and adds a community feeling - and one of those hideous things go up, all out of proportion to its lot size. In my brother’s area in the San Fernando valley, all the ranch houses are being destroyed and these things are being built by Iranians and Arabs. And they have very gaudy taste.
But, you’re right.
Yes, you are paying for them when they default on their loans because they were so stupid to buy way more than they need or afford. Also, the minute a mcmansion goes up in your neighborhood, the tax appraisal district jumps all over it and raises your property tax.
They built millions of those 2 story 3k and 4k sq ft homes inland in CA with illegal alien labor. The poor slobs who bought them in the mid 90s etc didn’t figure out it was going to cost them 600++ per month just for electricity in the hot months just to make the habitable.