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Research shows a million dollars homes isn’t as luxurious as it once was

by Babu Patil
Research shows a million dollars homes isn't as luxurious as it once was

“A million dollars homes isn’t as luxurious as it once was,” said Skylar Olsen, chief economist at Zillow.

Today’s homes tend to have fewer bathrooms and are generally older, the report notes. The typical home selling for around $1 million has shrunk in nearly every major metropolitan area. Minneapolis and St. Louis saw the largest square-footage increases for $1 million-plus homes. According to Zillow, Hartford, Connecticut, had the lowest price per square foot for such homes.

Grocery shoppers aren’t the only ones who have to contend with the phenomenon known as “shrinkflation,” which is what happens when the price of something stays the same or gets higher even as the item gets smaller....

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