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Old 07-10-2015, 09:17 AM
 
27 posts, read 31,248 times
Reputation: 12

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Quote:
Originally Posted by dolphin99 View Post
Think people. Rising prices are only good for sellers. They are hardly good for owners (higher taxes) or buyers.

The only thing driving it is fiat money creation by the central bank. Banks create the money out of thin air and loan it out, leading to speculative bubbles throughout the economy for the past 15-20 years. This is the final one, that encompasses real estate, stocks, and bonds.

It is going to end in disaster for many, and we are all being turned into serfs.
Even considering the scenario, is it better to be in a bigger home with a good school or a smaller one with good school? Please share your thoughts.

 
Old 07-10-2015, 10:47 AM
 
39 posts, read 42,983 times
Reputation: 35
New house construction has slowed down in the core city areas of Dallas and Plano because a lot of new construction is happening in the burbs right now. McKinney, Frisco, Highland Village, Keller, Prosper and Celina.

There are a few different things going on in DFW that is pushing the home prices high. One of them is a lot of migration. I have met at least 50 families that moved from other states to DFW in the last 2 years. For them, 400k house is a steal deal. They are mostly from New England or Midwest cities and some from California.

After the recession as house prices are going up, a lot of people are selling their houses and are using the proceeds to move to better and newly constructed communities. These guys make money on their house sale and take additional loan and hence buy more expensive house.

The third group of people are the ones who do not really need a house right now but are buying because they believe they will not be able to get the same house after a year or two because of how fast the prices are rising.

The fourth group of people are the ones who believe that this is just a bubble and say that, it will crash.

There will be a recession but not as big as the 2008 one anytime soon( remember 2008 recession is the 2nd biggest after Great Depression). So the second one would be only a few months and there are no indicators that there would be a recession anytime soon. There are some layoffs at companies but there is nothing to indicate a recession.

Some TV hosts are trying to make a name for themselves by occasionally by saying recession is here and Greece will cause it. That is ridiculous IMHO because Greece is broke for more than few years now and its economy does not impact other countries ( Australia, India, Malaysia, Thailand, Indonesia, South Korea did not go into recession due to 2008 economic collapse. Only Europe, part of Latin america and China were affected)

The law of economics states that prices will eventually become equal across all big cities in a country. Though prices are rising in Dallas, they are still a lot cheaper ( same house in different cities) compared to Chicago,Virginia, and New England cities.

In Dallas, prices will keep rising, lots will get smaller, jobs will grow, all road will be toll roads and people will prosper
 
Old 07-10-2015, 12:11 PM
 
Location: Mckinney
975 posts, read 1,005,861 times
Reputation: 981
Quote:
Originally Posted by TheOverdog View Post
I've not seen any legitimate explanation as to why new home construction is so low - must be many factors still tailing to the crisis in 2008.
For us, and other builders, we cant get land developed fast enough. Not even close. All our upcoming areas, and other builders, are experiencing the worst delays in land development I have seen in 14 years.
 
Old 07-10-2015, 01:13 PM
 
3,810 posts, read 3,707,626 times
Reputation: 4106
Quote:
our upcoming areas, and other builders, are experiencing the worst delays in land development I have seen in 14 years.
As in Planning and Zoning delays or other issues laid at the feet of the city government, or something to do with purchasing and banks?
 
Old 07-10-2015, 01:22 PM
 
Location: DFW - Coppell / Las Colinas
29,933 posts, read 34,545,221 times
Reputation: 35932
Quote:
Originally Posted by TheOverdog View Post
As in Planning and Zoning delays or other issues laid at the feet of the city government, or something to do with purchasing and banks?
Time and costs. It takes time to develop with utilities, sewers, roads but land costs have soared in the last 2 years.

Another HUGE complaint from developers / builders is a severe shortage of skilled labor.
Contractors are being bribed with bonuses to leave a job and go to another one.

I'm surprised we're not in a concrete shortage yet.
 
Old 07-10-2015, 01:30 PM
 
43 posts, read 68,084 times
Reputation: 87
Quote:
Originally Posted by TheTXGuyHere View Post
Though prices are rising in Dallas, they are still a lot cheaper ( same house in different cities) compared to Chicago,Virginia, and New England cities.
Homes in certain East Dallas neighborhoods and the northern Dallas suburbs have almost reached the price of similar homes in Boston suburbs such as Newton, Concord, and Winchester. Even with state and local taxes in Massachusetts, homes in the Boston metro are a better value than homes in the Metroplex. The Boston suburbs mentioned have far superior schools, better services, and proximity to more cultural amenities and desirable outdoors. Dallas can compete with the coastal metros and Chicago primarily because housing costs have been relatively low. If this changes, there is trouble for Dallas.
 
Old 07-10-2015, 02:02 PM
 
Location: Mckinney
975 posts, read 1,005,861 times
Reputation: 981
Quote:
Originally Posted by TheOverdog View Post
As in Planning and Zoning delays or other issues laid at the feet of the city government, or something to do with purchasing and banks?
There are not as many delvelopers as before the crash, and some have stretched themselves way to thin by the lure of money, but cant get the land done.

Also, what Rakin mentioned as well. Shortage of everything. It sucks right now. I have a community coming up that has been delayed over 2 months with a waiting list of 250 people on a interest list.
 
Old 07-10-2015, 02:15 PM
 
Location: North Texas
23,602 posts, read 31,161,722 times
Reputation: 26673
Quote:
Originally Posted by Rakin View Post
Time and costs. It takes time to develop with utilities, sewers, roads but land costs have soared in the last 2 years.

Another HUGE complaint from developers / builders is a severe shortage of skilled labor.
Contractors are being bribed with bonuses to leave a job and go to another one.

I'm surprised we're not in a concrete shortage yet.
Have you tried getting a concrete pour done recently, or gone to HD or Lowe's to shop for bags of concrete? The price increases are VERY apparent.
 
Old 07-10-2015, 02:32 PM
 
4,231 posts, read 2,542,225 times
Reputation: 2207
Quote:
Originally Posted by BigDGeek View Post
Have you tried getting a concrete pour done recently, or gone to HD or Lowe's to shop for bags of concrete? The price increases are VERY apparent.
Does US ban importing concrete??
 
Old 07-10-2015, 02:37 PM
 
Location: North Texas
23,602 posts, read 31,161,722 times
Reputation: 26673
Quote:
Originally Posted by J.Thomas View Post
Does US ban importing concrete??
No idea dude.
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