What it is:
How it works/Example:
Let's say John and Jane Doe buy a house in McMinnville. The house has five bedrooms, four baths, a pool and 5,000 square feet of living space. It's beautiful, to be sure. However, it is virtually identical to the rest of the houses on the street or is one of five "versions" that the developer approved for the neighborhood when it was built.
Why it matters:
A McMansion is a derogatory slangfor a fancy house that looks like all the other houses in the neighborhood or region.