Barry Tsur acknowledges that the current economic environment isn't the best time to be selling multimillion-dollar cottages.

The 71-year old retiree has been living in his palatial 12,000-sq.-ft. home on Lake Simcoe for two years. The property was his "retirement dream."

But circumstances change and he wants to move closer to his children overseas, so he's put his home on the market.

The problem is finding a buyer willing to part with anywhere north of $3 million when bling is out of vogue. And nothing says discretionary purchase like a mansion on a lake with 1,200 feet of shoreline.

"People are downsizing, rather than upsizing, but they still need to entertain," says Tsur.

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