Will DFW be hit hard by next recession or can it get away with it?? (Dallas: crime, house prices)

[Katana49]

Damn it EDS, if you keep responding and correcting our perennially misinformed poster before I get a chance to, I'll have nothing to do here.

[EDS_]

Originally Posted by Katana49

Damn it EDS, if you keep responding and correcting our perennially misinformed poster before I get a chance to, I'll have nothing to do here.

Had the day off yesterday, so I was ready!

[nurider2002]

I live in Collin County in a relatively new development. All of the homes are less than five years old. The numbers of folks selling is somewhat shocking, considering most have been in their homes less than 3 years. The reasons many of my neighbors are giving are the high property taxes. Many are relocating to neighboring states as a result. I guess I always thought the lack of a state income tax balanced out the property taxes but I think folks getting that huge bill once a year is more than they bargained for. A recession would be a big deal for a lot of folks in North Texas.

[TashaPosh]

Originally Posted by nurider2002

I live in Collin County in a relatively new development. All of the homes are less than five years old. The numbers of folks selling is somewhat shocking, considering most have been in their homes less than 3 years. The reasons many of my neighbors are giving are the high property taxes. Many are relocating to neighboring states as a result. I guess I always thought the lack of a state income tax balanced out the property taxes but I think folks getting that huge bill once a year is more than they bargained for. A recession would be a big deal for a lot of folks in North Texas.

More people are moving into Collin County than are leaving. Most of the people in new construction homes are here for high paying jobs. The population growth has been explosive. People can't just pick up & leave these jobs to move to Oklahoma or a neighboring state cause of high property taxes...Lol. Many have been transferred in, like myself & my ex. To think these people have decided to sell their homes & move to a neighboring state cause of a slightly higher property tax bill is just...really silly. No state taxes does balance out the high property taxes...for most.

[EDS_]

Originally Posted by nurider2002

I live in Collin County in a relatively new development. All of the homes are less than five years old. The numbers of folks selling is somewhat shocking, considering most have been in their homes less than 3 years. The reasons many of my neighbors are giving are the high property taxes. Many are relocating to neighboring states as a result. I guess I always thought the lack of a state income tax balanced out the property taxes but I think folks getting that huge bill once a year is more than they bargained for. A recession would be a big deal for a lot of folks in North Texas.

Unless your neighbors are all moving to Oklahoma - if they are indeed moving to neighboring states - they are mistaken. NM, LA and AR all have higher state + local tax burdens especially on people who make decent money. In this general part of the country the only states with much of a tax advantage over TX are OK, AL and TN and across nearly every professional occupation pay is lower to much lower in those states generally.

[biafra4life]

Originally Posted by EDS_

You specifically wrote, "Dont (sic) compare dallas housing with new york or california." You mentioned states. And you added the false, "they are four to five times bigger economically" claim. All I am doing is correcting your misconceptions so that no one falls prey to your serially awful information.


And of course I can compare DFW to SF, NY and LA.

A. 2017 Metro area per capita GDP contribution.....in 2009 chained dollars per The Census Bureau and USBEA.

1. Midland TX $174,749, interestingly enough.

2. San Jose $128,308

3. San Francisco $89,978

10. New York $71,084

15. LA $67,763

21. DFW $64,824

34. Chicago $61,170 for reference.

37. San Diego $60,517 for reference.

I'll try to find per-city money value adjustment numbers tomorrow but I don't need them to know with metaphysical certainty DFW will beat both NY and LA and is probably close to SF.

In no universe are those places four or five times bigger economically than DFW.

I generally agree with you on this EDS, but I have to question any list that has freaking Midland higher than San Jose, and NY. Midland? Really? That has to be a mistake. What’s next, Lubbock? Odessa? Lol

[kyam11]

Originally Posted by biafra4life

I generally agree with you on this EDS, but I have to question any list that has freaking Midland higher than San Jose, and NY. Midland? Really? That has to be a mistake. What’s next, Lubbock? Odessa? Lol

Midland will be skewed because of all the oil production and companies. As oil goes there so would the numbers. I travel there and it is almost always close to $300 a night for a decent hotel.

[EDS_]

Originally Posted by biafra4life

I generally agree with you on this EDS, but I have to question any list that has freaking Midland higher than San Jose, and NY. Midland? Really? That has to be a mistake. What’s next, Lubbock? Odessa? Lol

I was surprised too and cross-referenced the data. It's right.

[serger]

Originally Posted by kyam11

Midland will be skewed because of all the oil production and companies. As oil goes there so would the numbers. I travel there and it is almost always close to $300 a night for a decent hotel.

Yep, it's the oil. I remember staying in Carlsbad area many years ago for next to nothing. And then couple of years ago I was checking and motels were running at $300+

[EDS_]

You guys seem to be implying that oil and gas don't count in an econometric sense.