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Old 04-28-2017, 09:33 AM
 
Location: Arlington, TX
422 posts, read 407,360 times
Reputation: 721

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Quote:
Originally Posted by aggie972 View Post
Interesting that the Southern suburbs saw such a large appreciation. Maybe this is the start of a big change there. I've always felt its inevitable, just hard to say exactly when. Commuting from there to somewhere like legacy would be murder though.

Yes but for people that work downtown it's a quick easy jaunt from the southern burbs.
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Old 04-28-2017, 11:19 AM
 
2,450 posts, read 2,091,008 times
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Quote:
Originally Posted by Aceraceae View Post
Higher prices. Fewer choices. 7 figure homes selling fast. 200-450k you're screwed.
And what's even worse is that in most other places not on the coasts, 200k-450k would get you a VERY nice, spacious, home that might not be built this year but is move in ready. But these days in DFW, 200k to at least 350k will usually get you a much older home that's often smaller and in need of substantial repairs and/or updates, and even those are hard to outbid people on a lot of times, with there being such a shortage of houses now in DFW.
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Old 04-28-2017, 01:16 PM
 
Location: Both sides of the Red River
779 posts, read 2,093,977 times
Reputation: 1120
Quote:
Originally Posted by Aceraceae View Post
https://www.dallasnews.com/business/...source=Twitter

Paste the link in an incognito tab to bypass paywall.
Thank you. I was wondering how to get around that.

Quote:
Originally Posted by Taynxtlvl View Post
The answer is yes.. But it's not unique to Dallas, DFW or Texas.. Its the whole southern tier of the country especially the cities which are booming from NC to Arizona.. and the west is and has been pricey. the only exceptions are the states with limited economic bases to draw for employment. Mississippi (still the worst state in the union is so many metrics) alabama to some extent, parts of arkansas and louisiana.
This may be true, but that is really not the whole story.

For anyone who is curious, the article I linked references this study here

There are obviously other factors at play, but if you look at affordability just based off of median family income and the median price of a home, Dallas ranks very poorly in this regard.

With only 50.1% of families being able to afford the median priced home, that means that Dallas is the third least affordable market in the south (only Jacksonville, Naples, and Miami are worse as all 3 have low incomes). It is lower than peer cities like Houston (61.0%) and Atlanta (69.9%). Perhaps the most stunning thing to me is, despite higher housing costs, higher incomes means housing is now more obtainable in so-called "expensive" markets like Austin (58.6%), Denver (53.9%), and Washington DC (64.1%)
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Old 04-28-2017, 08:40 PM
 
Location: Texas
1,877 posts, read 1,537,437 times
Reputation: 1917
Quote:
Originally Posted by #1soonerfan View Post
Thank you. I was wondering how to get around that.



This may be true, but that is really not the whole story.

For anyone who is curious, the article I linked references this study here

There are obviously other factors at play, but if you look at affordability just based off of median family income and the median price of a home, Dallas ranks very poorly in this regard.

With only 50.1% of families being able to afford the median priced home, that means that Dallas is the third least affordable market in the south (only Jacksonville, Naples, and Miami are worse as all 3 have low incomes). It is lower than peer cities like Houston (61.0%) and Atlanta (69.9%). Perhaps the most stunning thing to me is, despite higher housing costs, higher incomes means housing is now more obtainable in so-called "expensive" markets like Austin (58.6%), Denver (53.9%), and Washington DC (64.1%)
I'm stupid, but 50.1% doesn't sound so bad. After all, that's like saying only have of families can afford the homes priced at the halfway mark of all homes. Also, I did expect Jacksonville to be so unaffordable.
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Old 05-01-2017, 03:48 PM
 
Location: Both sides of the Red River
779 posts, read 2,093,977 times
Reputation: 1120
But the national average is 60%. To be frank, what is so special about Dallas would demand such a premium over other fast growing sunbelt metros?

I should point out that Dallas already has one of the lowest home ownership rates in the nation and current prices will only depress that further.

In Dallas, Poverty and Low Homeownership Go Hand in Hand | Dallas Observer
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Old 05-01-2017, 03:53 PM
 
280 posts, read 166,005 times
Reputation: 307
We can all thank the California, Illinois, and the rest of the Northern States.
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Old 05-01-2017, 04:03 PM
 
140 posts, read 141,627 times
Reputation: 236
You can thank the high tax liberal states for screwing the middle class, helping the very rich, and expanding the poor dependence on government. The middle class flees to places like dallas/austin/atlanta/tampa/etc that are more affordable and have jobs.
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Old 05-01-2017, 05:49 PM
 
11,059 posts, read 11,106,714 times
Reputation: 10058
Quote:
Originally Posted by #1soonerfan View Post
But the national average is 60%. To be frank, what is so special about Dallas would demand such a premium over other fast growing sunbelt metros?

I should point out that Dallas already has one of the lowest home ownership rates in the nation and current prices will only depress that further.

In Dallas, Poverty and Low Homeownership Go Hand in Hand | Dallas Observer
Real take home pay+savings among the professional set is what is special about Dallas.
The home ownership rate here is roughly meaningless. Legions of young people want to live near downtown and uptown.
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Old Yesterday, 03:03 AM
 
48 posts, read 17,940 times
Reputation: 47
Looking back at this thread from years ago, yes, DFW has become very unaffordable and will likely stay so. It’ll become as expensive as other major cities in the US and there’s still a lot of catching up to do price wise. Likely won’t be cheap anymore.
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Old Yesterday, 05:31 AM
 
151 posts, read 77,866 times
Reputation: 225
Quote:
Originally Posted by JlkajwlNsn View Post
Looking back at this thread from years ago, yes, DFW has become very unaffordable and will likely stay so. It’ll become as expensive as other major cities in the US and there’s still a lot of catching up to do price wise. Likely won’t be cheap anymore.
The apartment rents in DFW are exorbitant. I am paying $720/month for my tiny apt (approx. 250 sq. ft) which is located in a semi-ghetto neighborhood in Richardson. My landlord already raised my rent twice since I moved here in May 2018. I have considered moving to Collin County but the 1 bdrm apartments there are at least around $950/month or more which I cannot afford right now. I am trying to save up some money and hope to find a better paying job soon so I can live in a more quiet and less congested area.
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