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Old 07-07-2015, 03:02 PM
 
Location: The Mid-Cities
1,080 posts, read 1,380,156 times
Reputation: 670

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Quote:
Originally Posted by aggierk View Post
With rain gone, I am glad to see the inventory going up.

D-FW home starts up 25 percent in second quarter | | Dallas Morning News
Yup I'm glad to see more houses finally being built. It's either keep building up and out or everyone pay the price in the form of rent/mortgages.

 
Old 07-07-2015, 04:15 PM
 
1,518 posts, read 985,845 times
Reputation: 1304
I don't see as bad of a problem. Rising home prices, especially if it is concentrated in "upper class" areas can be helpful by pushing out poorer home owners to other areas. I mean prices logically cannot go up forever if the people cannot afford it. Luckily Dallas isn't in a situation like Hong Kong, Singapore, Paris, London, or Vancouver; Dallas' growth seems to be fueled by migration of workers settling in the area rather than housing being picked up by wealthy investors or individuals from elsewhere.
 
Old 07-07-2015, 04:55 PM
 
1,787 posts, read 1,884,357 times
Reputation: 1706
That second sentence is hilarious.
 
Old 07-07-2015, 05:03 PM
 
87 posts, read 85,648 times
Reputation: 66
Instead of eating up land and causing traffic nightmares, builders should get incentives from Dallas for remodeling existing homes and reviving the core area.
 
Old 07-07-2015, 05:37 PM
 
1,787 posts, read 1,884,357 times
Reputation: 1706
The core area is going crazy right now too.
 
Old 07-07-2015, 06:44 PM
 
3,103 posts, read 1,722,747 times
Reputation: 3274
This hot real estate market is more sustainable than the early to mid-2000s Arizona real estate market that came crashing down. Dallas has stronger economic fundamentals than Phoenix did (and does).
 
Old 07-07-2015, 07:32 PM
 
Location: East of Seattle since 1992, originally from SF Bay Area
28,400 posts, read 50,602,810 times
Reputation: 28627
Goodness, your median price is still less than 1/3 of what it is here, and we went up 10.5%. I guess our little city of only 50,000 is too small to be considered for the list. Yes, it's great for people that have been here 20+ years like us with 400k or more equity but hard for first time buyers. I do know several people that have recently moved to Texas to pay cash for a bigger home with the proceeds from their sale here.
 
Old 07-07-2015, 07:53 PM
 
161 posts, read 214,535 times
Reputation: 93
I agree that rising property taxes are a nuisance, but having significant gains in equity in a short amount of time also has many benefits.
 
Old 07-07-2015, 08:34 PM
 
94 posts, read 111,744 times
Reputation: 141
Quote:
Originally Posted by BabyDoctor77 View Post
I agree that rising property taxes are a nuisance, but having significant gains in equity in a short amount of time also has many benefits.
The only good benefit is if you are planning to sale soon. Equity is just paper money until you cash in on it. The rise in Tax paid out is real money that you can't get back. So if the home price ever goes back down to the starting point, a home owner who didn't cash out would lose more than he gained.
 
Old 07-07-2015, 08:52 PM
 
7,283 posts, read 8,120,225 times
Reputation: 5375
Quote:
Originally Posted by Austrian2 View Post
Instead of eating up land and causing traffic nightmares, builders should get incentives from Dallas for remodeling existing homes and reviving the core area.
This is real life not a cartoon. Wishing for something that cannot happen to any significant degree equals dreaming.
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