DFW real estate's future (Dallas, Arlington: apartments, rent, credit)

[Falafelosophy]

Do you see DFW real estate becoming as valueable as Manhattan or Silicon valley as a result of adding residents at a speed of 4ppl/min?

[Johnhw2]

Originally Posted by Falafelosophy

Do you see DFW real estate becoming as valueable as Manhattan or Silicon valley as a result of adding residents at a speed of 4ppl/min?

No, there are no natural barriers here such as there are in those water/mountain side locations. Additionally the artificial barriers of strict rigid zoning isnt here. Finally, DFW is a great place to live and work but not a tourist attraction nor glamourous like the other two spots, although you could argue Silicon Valley's isnt as glamourous as SF however it has the increditly well thought of Stanford University in the valley and so well linked to the incubator of start ups in Silicon Valley.

I for one, hope we dont lose our affordability in the suburbs, as that is part of our job engine.

[EDS_]

Originally Posted by Falafelosophy

Do you see DFW real estate becoming as valueable as Manhattan or Silicon valley as a result of adding residents at a speed of 4ppl/min?

Absolutely not. We have few of the natural restrictions to growth. More or less none of the man made impediments and Dallas in particular as a big city is not very dense now.

Ha! I see Johnhw2 beat me to the punch.

[skids929]

As much as natural restrictions can inhibit growth, availability of natural resources can enhance it..The entire Northeast is so very blessed with (clean beautiful) water, something Texas has a problem with, and will continue to be challenged by.

You can add this to the list of reasons why it won't ever be like the areas you are comparing it to. Will never happen, and it's not necessarily a bad thing either.

[Falafelosophy]

I agree and that's one of the main reasons I rent here and invest in NY. Do you see Dallas & inner core suburbs becoming more expensive compared to the middle core older suburbs or outer/farther core newer suburbs?

[TheOverdog]

Do you see Dallas & inner core suburbs becoming more expensive compared to the middle core older suburbs or outer/farther core newer suburbs?

No because the highways are too spacious and well designed, with the exception of unique areas in the inner ring, where 'unique' means views, water, proximity to existing wealthy areas, proximity to DART 20 years in the future, etc. Your average neighborhood will stay constant or decline unless gas becomes $8 a gallon.

[Falafelosophy]

If we go for current values than good central areas are already doing better. One can't find similar property in HP/Southlake/West Plano/PH for similar price that he would pay for it in Allen or Lucas. Gas prices are still way below $8. Is this trend going to stay or change?

[carroll4628]

Part of the allure of DFW is that major companies are located "in the suburbs" - Plano, Arlington, etc. Not everyone is trying to commute to a central location (ala NYC, DC) for the most part. (Which is why the first question on this board is always Where's the Job.) As long as companies (with support/incentives from cities) set up shop in once far flung locations such as Plano, Allen, McKinney, etc. there will never be the concentration of 'desired' housing seen in other metropolian areas. It's amazing to me that just down the street from AT&T's corportate HQ (literally 3 blocks) is pretty run down. There's a reason companies aren't setting up shop downtown. (I honestly don't know what it is...)

[cmw2133]

Originally Posted by Johnhw2

No, there are no natural barriers here such as there are in those water/mountain side locations. Additionally the artificial barriers of strict rigid zoning isnt here. Finally, DFW is a great place to live and work but not a tourist attraction nor glamourous like the other two spots, although you could argue Silicon Valley's isnt as glamourous as SF however it has the increditly well thought of Stanford University in the valley and so well linked to the incubator of start ups in Silicon Valley.

I for one, hope we dont lose our affordability in the suburbs, as that is part of our job engine.

One other thing is that Dallas doesn't have one industry that generates a lot of wealth for a select few to the exclusion of most others the way tech drives up costs in San Fran and finance does in New York. The industries in Dallas tend to distribute their gains more broadly.

Also, particularly in New York, there are a lot of rich foreigners (Russian, European, Chinese, Arab, etc.) that buy apartments and use them for the two weeks of the year they come to New York. Plus in Dallas you have a lot fewer trustafarians living in the apartment mommy and daddy bought them.

[EDS_]

Originally Posted by Falafelosophy

I agree and that's one of the main reasons I rent here and invest in NY. Do you see Dallas & inner core suburbs becoming more expensive compared to the middle core older suburbs or outer/farther core newer suburbs?

That's already the case generally.