U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > U.S. Forums > Texas > Dallas
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
 
Old 07-14-2016, 10:04 AM
 
Location: The Windy City
5,332 posts, read 3,933,695 times
Reputation: 4667

Advertisements

Quote:
Originally Posted by BigDGeek View Post
We're exploring our options as well. (Mostly we want out of north Texas because of the weather and overcrowding, not the cost of living.)

I don't think there's going to be a mass exodus out of here though. The job market here is better than many other cities and it keeps people here despite decreasing affordability. I think it'll have to get really bad before companies stop relocating here.
I haven't even been here a year yet and I pretty much already know this isn't going to be the permanent place for me.

There are great things about the area, but low salaries, higher/increasing cost of living, weather, and bland scenery have really been killing the experience for me. I can live with a few of these cons, but not all of them.

Makes me realize why many of my coworkers live in the boonies.

I really need to find a mid-sized city with normal population growth. I've been thinking of moving back to Kansas City or St Louis as those areas have the same salaries as DFW, but much cheaper housing, and better summer weather.
Rate this post positively Quick reply to this message

 
Old 07-14-2016, 10:11 AM
 
Location: North Texas
24,571 posts, read 35,617,910 times
Reputation: 28459
Quote:
Originally Posted by lepoisson View Post
I haven't even been here a year yet and I pretty much already know this isn't going to be the permanent place for me.

There are great things about the area, but low salaries, higher/increasing cost of living, weather, and bland scenery have really been killing the experience for me. I can live with a few of these cons, but not all of them.

Makes me realize why many of my coworkers live in the boonies.
I feel your pain. If I hadn't bought a house when I did, I'd be priced out of the neighborhood I now live in. I bought in '09 when there was still blood in the water and the Richardson market hadn't quite found its bottom (it dipped slightly lower in '10).

House prices have escalated much more quickly than my salary has in the last 7 years, for sure. The overall cost of living has shot up: health insurance, water, electricity, gas, groceries, etc., all have gone up faster than my salary has. Sure, I make more than I did in '09...but I still have less spending power. And while a mortgage payment is "stable," insurance and taxes (which are escrowed for me) go up and up and up.

Not to mention the cost of building materials has shot up too. Why is that relevant to the owner of a 60 year-old house? Glad you asked! Whenever you pour a new sidewalk or driveway, tear down or build a wall, remodel, build a new fence, etc....you pay out the butt for it. The cost of concrete has gone up a staggering amount in the last ten years.

I'm tired of constantly feeling the screws turning. Sick of it. DH and I make almost 200k combined but we're sick of seeing a constant stream of money flowing out for taxes, utilities, etc.
Rate this post positively Quick reply to this message
 
Old 07-14-2016, 10:18 AM
 
Location: Richardson, TX
164 posts, read 208,169 times
Reputation: 296
Quote:
Originally Posted by lepoisson View Post
Dallas is a nice place to live, but I would NEVER pay Chicago prices for housing here. And I would hope that DFW prices never approach that amount.
DFW is already there. In May 2016, the median home sale price in the Chicago metro area was $295K. In the same period, the median price in DFW was $282K.

Compared to Jun 2006, Chicago was $262K and DFW was $160K.

That's why I used Chicago as a parallel. Middle of the country, economic powerhouses with extreme whether in at least one season and (other than Lake Michigan) pretty bland scenery. The two metros are pretty on par with each other in most measures today. Unfortunate if you are pining for the days of affordability and a slower pace.
Rate this post positively Quick reply to this message
 
Old 07-14-2016, 10:26 AM
 
Location: Both sides of the Red River
779 posts, read 2,093,331 times
Reputation: 1120
Quote:
Originally Posted by lepoisson View Post

However, it's alarming to me that housing prices keep skyrocketing here, yet salaries stay the same. What happens to all of the people who are here and can afford $1000 rent or a $175,000 home, but cannot afford $1500 rent or a $250,000 home (like myself)? My guess is that these people will simply leave and that the influx of people will slow as housing keeps increasing. I guess this will make prices more stable.

I moved here from Kansas City to get into a different field. I got a small salary increase. But now that I think about it, I probably lost money because I am paying $900 for rent instead of $700.

I've come to accept the fact that I will never be able to own a home here unless I get a salary increase, or find a better paying job.

I guess the alternative is just to move somewhere where the cost of living is more stable and affordable.
Trust me you are not alone in this thought, I am very much in the same boat. Don't know where I saw it but Dallas actually has a very low home ownership rate.

For reasons already stated, I'll stop short of saying this area is in a bubble. It is, however, a fundamental change in the housing market. I think rents and home prices will continue to increase, although maybe at a lower rate in the future. I also can see this area possibly tapping the brakes growth-wise as people who would have moved here in the past would be dissuaded now.

Speaking of, I think people are really going to have to make a decision on whether or not this area is worth the premium. I think DFW is okay and it does have a good job market, depending on your field of course, but I am not so sure it is worth the money people are asking. Jobs certainly are not paying 30-40% more in the past 7 or so years. Its also not like this area suddenly sprouted mountains, got cooler in the summer, or had less traffic congestion (LOL).
Rate this post positively Quick reply to this message
 
Old 07-14-2016, 10:28 AM
 
Location: The Windy City
5,332 posts, read 3,933,695 times
Reputation: 4667
Quote:
Originally Posted by LookingInRichardson View Post
DFW is already there. In May 2016, the median home sale price in the Chicago metro area was $295K. In the same period, the median price in DFW was $282K.

Compared to Jun 2006, Chicago was $262K and DFW was $160K.

That's why I used Chicago as a parallel. Middle of the country, economic powerhouses with extreme whether in at least one season and (other than Lake Michigan) pretty bland scenery. The two metros are pretty on par with each other in most measures today. Unfortunate if you are pining for the days of affordability and a slower pace.
But you can still find a decent single family home in DFW for $175,000. A home for that price in Chicago will need a LOT of work and probably won't even be safe.

But the trade off is that Chicago is really on another league when it comes to transportation, cultural activities, and food. Which is why many big cities are worth the extra $$$ it costs to live there.

Quote:
Originally Posted by #1soonerfan View Post
Trust me you are not alone in this thought, I am very much in the same boat. Don't know where I saw it but Dallas actually has a very low home ownership rate.

For reasons already stated, I'll stop short of saying this area is in a bubble. It is, however, a fundamental change in the housing market. I think rents and home prices will continue to increase, although maybe at a lower rate in the future. I also can see this area possibly tapping the brakes growth-wise as people who would have moved here in the past would be dissuaded now.

Speaking of, I think people are really going to have to make a decision on whether or not this area is worth the premium. I think DFW is okay and it does have a good job market, depending on your field of course, but I am not so sure it is worth the money people are asking. Jobs certainly are not paying 30-40% more in the past 7 or so years. Its also not like this area suddenly sprouted mountains, got cooler in the summer, or had less traffic congestion (LOL).
Right. There really isn't anything in DFW that I cannot get in Kansas City or St Louis (except for delicious Mexican food). I think most people move here for the jobs and thoughts of cheap housing. I mean, I guess housing is cheap considering a $300,000 house here would easily cost double that up North.
Rate this post positively Quick reply to this message
 
Old 07-14-2016, 10:28 AM
 
185 posts, read 139,777 times
Reputation: 311
Quote:
Originally Posted by BigDGeek View Post
I feel your pain. If I hadn't bought a house when I did, I'd be priced out of the neighborhood I now live in. I bought in '09 when there was still blood in the water and the Richardson market hadn't quite found its bottom (it dipped slightly lower in '10).

House prices have escalated much more quickly than my salary has in the last 7 years, for sure. The overall cost of living has shot up: health insurance, water, electricity, gas, groceries, etc., all have gone up faster than my salary has. Sure, I make more than I did in '09...but I still have less spending power. And while a mortgage payment is "stable," insurance and taxes (which are escrowed for me) go up and up and up.

Not to mention the cost of building materials has shot up too. Why is that relevant to the owner of a 60 year-old house? Glad you asked! Whenever you pour a new sidewalk or driveway, tear down or build a wall, remodel, build a new fence, etc....you pay out the butt for it. The cost of concrete has gone up a staggering amount in the last ten years.

I'm tired of constantly feeling the screws turning. Sick of it. DH and I make almost 200k combined but we're sick of seeing a constant stream of money flowing out for taxes, utilities, etc.
Double what you said...we moved and bought here in 2010 and our expenses, in large part thanks to skyrocketing property tax, have exceeded our increase in salary. My husband recently interviewed for a position in another state. We looked at cost of living comparisons, real estate, property and local taxes, schools, communities, etc. Even though this state has a state income tax we would come out ahead. And the community we were looking at is considered one of the best places to raise a family, excellent public schools, and four seasons of weather. I might actually look forward to packing everything up and loading it into a van.
Rate this post positively Quick reply to this message
 
Old 07-14-2016, 10:30 AM
 
Location: North Texas
24,571 posts, read 35,617,910 times
Reputation: 28459
Quote:
Originally Posted by #1soonerfan View Post
I think DFW is okay and it does have a good job market, depending on your field of course, but I am not so sure it is worth the money people are asking. Jobs certainly are not paying 30-40% more in the past 7 or so years. Its also not like this area suddenly sprouted mountains, got cooler in the summer, or had less traffic congestion (LOL).
DH and I 100% agree with this. DFW'd be more tolerable if it were still cheap and not nearly this crowded. But the terrible weather, boring landscape, lack of outdoor recreation (sorry, stagnant "lakes" and "hiking" on concrete paths doesn't cut it), congestion, and spiraling cost of living makes it a big bucket of NOPE NOPE NOPE NOPE NOPE.

If I'm going to pay a premium to live somewhere, it sure as hell isn't going to be on a flat boring prairie covered with concrete and strip malls.
Rate this post positively Quick reply to this message
 
Old 07-14-2016, 10:35 AM
 
Location: The Windy City
5,332 posts, read 3,933,695 times
Reputation: 4667
Quote:
Originally Posted by BigDGeek View Post
DH and I 100% agree with this. DFW'd be more tolerable if it were still cheap and not nearly this crowded. But the terrible weather, boring landscape, lack of outdoor recreation (sorry, stagnant "lakes" and "hiking" on concrete paths doesn't cut it), congestion, and spiraling cost of living makes it a big bucket of NOPE NOPE NOPE NOPE NOPE.

If I'm going to pay a premium to live somewhere, it sure as hell isn't going to be on a flat boring prairie covered with concrete and strip malls.
I think you hit the nail on the head. I complained about the blight in Kansas City when I lived there. And the scenery was a little boring. But it was more affordable and my rent stayed around the same price for years. The population was increasing, but at a normal rate. Huge increases are bad for any area.
Rate this post positively Quick reply to this message
 
Old 07-14-2016, 10:37 AM
 
Location: Shady Drifter
2,444 posts, read 2,134,376 times
Reputation: 4098
I hope prices keep escalating for a couple more years - I'll be looking to relocate at that point and would like to see a really nice gain on the house.
Rate this post positively Quick reply to this message
 
Old 07-14-2016, 10:41 AM
 
548 posts, read 662,330 times
Reputation: 1074
I've wondered myself if a mid sized city like Kansas City where homes are more affordable wouldn't be a better bet. It's not obvious to me that it would be though. In my industry, every major company has a branch office in Dallas. The Dallas office for each company is usually bigger/more established than the Houston office, and there's plenty of companies to choose from if you need to switch in order to get a raise. Texas also is doing really well economically right now compared to the other states, which helps our office hit our goals every year. Because I'm still early in my career, I have seen a few raises recently, but the home prices have also been a huge moving target, which has been frustrating.

I do hope there's some effort to preserve pockets of affordable housing in the metroplex. It's easy to say "move cities" to people just starting out, but I worry about someone like my mom who has lived here her whole life and doesn't have much saved for retirement.
Rate this post positively Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


 
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Texas > Dallas

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top