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In terms of livability, design matters much more than square footage. You can easily build a 4000 sq ft house that a couple won't rattle around in, even on a traditional floorplan. I live in one.
The entire reason for McMansion layout is livability. It seems that not too many Americans need a formal dining room for fancy dinner parties, so they merged it into the equally unused formal living room.
One thing I'm surprised by is the demise of split level houses. That is totally fashion-driven. A split level house is much more livable--especially with limited floor space--but people have this fantasy of grand entry halls and 5-over-4 curb appeal.
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