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The reason I bring it up is due to that, I can't really say which restaurants are good or not but I'm sure there are tons of Yelp reviews! If you decide to use DART rail, I think the station at Arapaho is probably the best one to use. The next one north is at Galatyn and that's quite a hike.
Dim Sum at Kirin Court I have Asian friends that drive in from Louisiana for it....
Wow, what a thread. I'm going to condense several replies into one post...
Quote:
Originally Posted by Gree Mountain
In my profession, the rising housing costs in D-FW pose a different problem. We recruit heavily from the Northeast and the West Coast. Most of our applicants are deeply worried about Texas state politics...
I always wonder if it works the other way. If someone from TX or OK gets recruited to CA or NY, do they have qualms about living in a deep-blue culture? Or is it only the Coasters who are worried about the red states?
Quote:
Originally Posted by biafra4life
The problem is for those DFW native born, or folks who are not coming with a ton of equity from the coasts. For these folks, these 10% increases in home prices year after year are just unaffordable. Right now it impacts those buying homes, but very quickly you are going to see home owners who cannot afford the tax increases every year and will be forced out or become house poor. That is why I think if we continue in the boom for another 5 or 10 years, it's going to be an interesting conversation.
This is exactly -- exactly -- what prompted CA's legendary 'tax revolt,' Proposition 13, according to my family and friends who were there at the time. People were being priced out of their own homes by the rapid annual increase in tax assessments. Prop. 13 was a huge earthquake (so to speak) in CA politics, and I wonder if something like that could ever happen here.
Quote:
Originally Posted by BigDGeek
I read an article recently that stated that DFW's skyrocketing house prices could work against it in the coming years, since one of the main factors that makes the area attractive for corporate relos is the lower cost of living which allows them to pay their employees and relocatees less without them having to lower their standard of living.
Once that's gone...well...hello, Omaha!
I wonder about how the competition works for the companies that decide on relocations. My theory: for really big companies like Toyota, you need an airport like DFW, and a range of housing from Highland Park to Uptown to Plano... how many cities really can offer all that? Chicago, Atlanta, Charlotte? It needs to be a pretty big city.
But then there are all the people who can basically live anywhere and work remotely, or companies that basically consist of a few people with laptops. I can see reasons for them not to choose DFW (traffic, crime, public schools, landscape, weather...) and would imagine the sweet spot would be midsize or small cities (i.e. college towns, state capitals or both) that basically have at least one decent airport, decent hospital, and enough people for a little bit of buzz, and then you can basically live in the country and go hiking or hunting if you want. I.e. Boise, Missoula, Boulder, Iowa City, Asheville... maybe Ann Arbor and Eugene, Oregon.
Quote:
Originally Posted by biafra4life
If I could rep you, I would. I've been saying this for ages now. Remove the low housing prices and there is little reason to ever consider DFW as a place to relocate a young family to. Weather sucks (compared to say San Diego for example), not much in the way of mountains/beaches, and despite what locals may believe, it's not a world class city on par with NY/LA. This is strictly a come for a good paying job and a chance to own a decent home. Nothing more, nothing less.
Yes. But... I think the people on this thread have underplayed just how much better Dallas is getting every year in 'urban lifestyle' terms: shopping, restaurants, culture, entertainment, parks, trails... Just in my own little corner of interest, when we moved in 2009 I found about two places I could go for a super-duper espresso, beyond Starbucks level, and both of those were less than 10 years old. Now there are literally about 15, just in Dallas itself. So, yes, I have lived in both NY and LA and agree that if you are not worried about money, you can live much better in a lot of ways on the coasts. But Dallas is not Waco, nor is 2015 Dallas the Dallas of 2005. This is a big city where you can have a great time doing something different every weekend.
Quote:
Originally Posted by TurtleCreek80
You're talking about areas of the country where average houses cost $500/SF or more. There are very very few parts of the DFW metroplex that even cost $300/SF in today's market. Most of Collin County is right around $100/SF. I HIGHLY doubt prices are going to increase by a multiple of 5X....which is the increase we'd have to see before they started to approach California/Northeast levels.
That reminds me of the stat I've seen in a few places -- now this is for Houston but I'm sure the same thing applies to Dallas -- that Houston alone issues new housing permits at the same rate as the entire state of California. For example, about 98,000 between 2011 and 2014. https://twitter.com/mark_j_perry/sta...91872791781376
So as long as we are surrounded by open prairie, invest in water supplies and roads, and don't put too many regulations on the builders (just a few "ifs" there), there's no reason to think the prices will ever catch up.
Quote:
Originally Posted by happycrow
Stargirl feels squeezed: they're upper-middle-class. My wife and I bring in half what they do -- which still puts us at almost TWICE the actual median income.
Start to get it now? All those lower-middle-class people who actually make things work need a place to live, too, and if your answer to that is "they can live in the far away crap places none of the rest of us want to look at," then congratulations, and welcome to San Fransisco On The Trinity.
As a middle-middle-income person, I really feel the pain here too... but I buy synchronicity's argument that that's the price of living in a big city with a good job market. I would love to be able to afford Lakewood or Kessler Park, but I can't and while it stinks, I see it as the price of the strong economy we enjoy in other ways. I know people who live in Garland and Arlington and they are quite happy. Also H-E-B, Waxahachie, etc. Those places are all pretty reasonably affordable still. Now I confess that my pride would be a little humbled to move to one of the less fancy suburbs, but the fact is they are great places to live, and being priced out of Plano or Lakewood or wherever is just how things go IMO.
Quote:
Originally Posted by TurtleCreek80
You're getting at the real issue. It's inventory. It's not that only 67 homes in all of Richardson are worth $200k or less, it's that there are only 20% of the "nornal" number of homes for sale in a healthy balanced market. There should be 335+ homes for sale in Richardson under $200k in the height of the spring market. But because potential sellers are worried about not having a place to move into, they aren't listing their homes for sale at the same rate as usual. The supply shortage is also causing prices to move upward due to scarcity.
[quote=4Movingeast;39222813]
Quote:
Originally Posted by ufcrules1
Sellers aren't accepting contingent offers in this hot multiple offer market- and many buyers need the funds from their closing to make their down payment.
This whole issue just seems like such a market failure. Some clever lawyer has got to come up with a kind of transaction that would 'unstick' the clog. What about this: You are selling your old home, so you have leverage. Out of all the offers you get, you choose to sell your old home to someone who will give you cash, but then they let you stay in place, until you find a new home and can close the deal on the new home. Since you've already been paid in cash for your old home, you are in a position to bid strongly on the new home.
If I wanted to sell my place today, and said: I want to sell to someone who will pay up front, but then let me stay here for 120-150-180 days until I can find and close on a new home, would I get offers?
This is exactly -- exactly -- what prompted CA's legendary 'tax revolt,' Proposition 13, according to my family and friends who were there at the time. People were being priced out of their own homes by the rapid annual increase in tax assessments. Prop. 13 was a huge earthquake (so to speak) in CA politics, and I wonder if something like that could ever happen here.
Of course it could... just get enough people behind it and change happens... Prop 13 also spawned similar measures in many States to different degrees.
Remember the politicians and those working in Government failed to act and said the Grass Roots movement would never get off the ground.
Prop 13 came about for three reasons... double digit property tax increases, the State taking local tax money for schools to spend in far off districts and corruption in county assessor offices... some leading to jail time and even suicide...
Terrible list to prove your point. The only "metro area" on that link is Memphis. The rest are small towns with populations of 60-100k people. Do you really expect DFW real estate- with it's 7M population- to look like Temple TX with its 70k population? If you do, you're delusional. There's not a metro area the size of DFW with less expensive housing. Expecting the median price point to be $90-100k range is just crazy for a huge metro area.
Terrible list to prove your point. The only "metro area" on that link is Memphis. The rest are small towns with populations of 60-100k people. Do you really expect DFW real estate- with it's 7M population- to look like Temple TX with its 70k population? If you do, you're delusional. There's not a metro area the size of DFW with less expensive housing. Expecting the median price point to be $90-100k range is just crazy for a huge metro area.
Emphasis added, and I'd note that there's not a metro ANYWHERE WITHIN THE TOP 30 OR SO IN THE US (Is Memphis the sole exception?) with housing prices anywhere close to Dallas. Except for Houston. Which hey presto! is in Texas.
Scott Burns who writes financial advice/investing column for the Dallas Morning News and other syndicated papers had an article couple of years ago about the value to companies of relocating to Texas...
one of the values was they could give the employees they transferred an immediate pay raise w/o having to give them any real money by moving them into an area where their equity/housing money went much farther than where they currently lived...
That edge is gradually being closed since prices in DFW area are going up -- plus we do have higher taxes than many states so even a less expensive home here could have the same tax price...
For many of these people they find acceptable schools and maybe enjoy other intangibles like better weather during winter...
but I think the state as a whole needs to pay close attention to CA's drought situation...
we have been pulling ground water out for decades for things like cotton farming in areas that never should have seen/been used that way...
we lost the court case to import water from OK...
we ourselves are in a serious drought and the one positive uptick from falling oil prices is that fracking horizontal wells has slowed so obscene amounts of water aren't being used for that anyway...
Terrible list to prove your point. The only "metro area" on that link is Memphis. The rest are small towns with populations of 60-100k people. Do you really expect DFW real estate- with it's 7M population- to look like Temple TX with its 70k population? If you do, you're delusional. There's not a metro area the size of DFW with less expensive housing. Expecting the median price point to be $90-100k range is just crazy for a huge metro area.
Used to make a point... the poster provided a list of port cities and compared them to Dallas.
Honolulu, Seattle, San Francisco, Washington DC etal are not Dallas... as much as I like Dallas...
Really... Honolulu where almost everything from gasoline to lumber and concrete has to be imported is used to show Dallas is a low cost city
Emphasis added, and I'd note that there's not a metro ANYWHERE WITHIN THE TOP 30 OR SO IN THE US (Is Memphis the sole exception?) with housing prices anywhere close to Dallas. Except for Houston. Which hey presto! is in Texas.
There are plenty of such metro areas: Atlanta, St. Louis, Detroit, Cleveland, maybe Phoenix, etc, etc.
Are the size of Dallas metro, obviously no, but still in the millions.
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If you decide to use DART rail, I think the station at Arapaho is probably the best one to use. The next one north is at Galatyn and that's quite a hike.
I have Asian friends that drive in from Louisiana for it....
