All over the world there is no shortage of luxury homes and impressive mansions however the problem is these days that no many people can afford to purchase this type of luxuriousness. Even though we would all like to live in a big house and have our own bathroom off each bedroom, sauna, spa and solarium, the facts are that after the housing price increase followed by the recession that these luxury houses are now out of the common mans reach. For the few people who can afford to buy a mansion the number of luxury homes and mansions now seem to outweigh the this number. This is a major contributing factor to the reduction in sales around the world.
People are finding it very difficult to sell in these times which is why prices are dropping or the houses are staying on the market for many months and even years. The crisis is global and no country has been left out which includes America where many mansions and houses that were built or purchased only several years ago and now well below that value.
In several states such as Florida and California where houses are big and full of options and extras, no longer are people willing to pay for the extras such as the indoor swimming pool, the observatory and the giant green houses. Although these do add up to extra value in the long term for most people today they are opting to build at a later date rather than paying up front for luxuries that they do not need.