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Old 05-18-2017, 08:37 PM
 
Location: plano
7,885 posts, read 11,366,761 times
Reputation: 7794

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I think Dallas and Texas finally resolving the failing police and fire men's pension fund is a late but good step. We need these services in all cities and perhaps now Dallas can stop the losses and attract good talent.
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Old 05-18-2017, 08:52 PM
 
Location: Plano, Texas
92 posts, read 116,766 times
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Not happy we're bailing out the pension fund over their poor management. Unfortunately there aren't many quick solutions to that problem.
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Old 05-18-2017, 08:57 PM
 
5,689 posts, read 4,121,640 times
Reputation: 7413
Just a quick thought on the "low inventory" problem people always talk about in hot real estate markets: When houses stay on the market for a week or less, that fact in itself contributes to low inventory. I think people always take the low inventory statistics to mean that there are few sellers willing to sell their houses, thus prices are high. Instead, it often means those sellers are finding buyers quickly, so at any given time, there are few houses for sale. Does anyone here have access to the number of houses sold in a given DFW market for 2016, 2015, 2013, etc.? I would be shocked if the number of houses sold is on the decline. If I'm right, it would mean that the low inventory is likely a symptom of a hot market rather than the cause.

There is a point where the hot market might stifle inventory, though. At some point, as it becomes harder for people to upgrade houses due to rising prices, they might be priced out of the upgrade house. That could certainly reduce inventory to a degree, but I doubt that has had a significant effect yet in DFW.
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Old 05-18-2017, 10:17 PM
 
Location: Dallas, TX
1,069 posts, read 1,099,408 times
Reputation: 1953
Quote:
Originally Posted by Wittgenstein's Ghost View Post
Just a quick thought on the "low inventory" problem people always talk about in hot real estate markets: When houses stay on the market for a week or less, that fact in itself contributes to low inventory. I think people always take the low inventory statistics to mean that there are few sellers willing to sell their houses, thus prices are high. Instead, it often means those sellers are finding buyers quickly, so at any given time, there are few houses for sale. Does anyone here have access to the number of houses sold in a given DFW market for 2016, 2015, 2013, etc.? I would be shocked if the number of houses sold is on the decline. If I'm right, it would mean that the low inventory is likely a symptom of a hot market rather than the cause.

There is a point where the hot market might stifle inventory, though. At some point, as it becomes harder for people to upgrade houses due to rising prices, they might be priced out of the upgrade house. That could certainly reduce inventory to a degree, but I doubt that has had a significant effect yet in DFW.
I believe a recent Dallas Morning News article noted that the number of homes sold in April was a monthly record to support your point.
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Old 05-18-2017, 10:21 PM
 
Location: C.R. K-T
6,202 posts, read 11,417,945 times
Reputation: 3809
Quote:
Originally Posted by Gravy Train View Post
Sure it matters-- Price and inventory sets the tone for overall sustainability of the market and a significant segment of buyers have been sidelined.

We're into the second consecutive week of falling mortgage application volume, in May no less:

Mortgage volume drops 4.1% in latest week as younger buyers bail out



The lack of inventory also seems to be limiting sales volume.

Real estate CEO: Record low housing inventory is 'freaking us out'
Either of these two factors may lead prospective companies to consider locating their company or a division somewhere else. People who are flexible in location may think that DFW is in a bubble right now. Not a good sign for DFW!
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Old 05-18-2017, 10:27 PM
 
Location: Dallas, TX
1,069 posts, read 1,099,408 times
Reputation: 1953
Quote:
Originally Posted by KerrTown View Post
Either of these two factors may lead prospective companies to consider locating their company or a division somewhere else. People who are flexible in location may think that DFW is in a bubble right now. Not a good sign for DFW!
You might want to actually read the articles before you comment. Just a suggestion.
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Old 05-19-2017, 06:46 AM
 
Location: North Texas
24,561 posts, read 40,189,983 times
Reputation: 28548
Quote:
Originally Posted by Gravy Train View Post
Not happy we're bailing out the pension fund over their poor management. Unfortunately there aren't many quick solutions to that problem.
Please correct me if I'm wrong, but your info says you're in Plano. My understanding of the Dallas Police & Fire pension issue is that taxpayers in the city of Dallas itself will be on the hook for this. So if you're in Plano and they're in Dallas, what's with the "we" stuff?

I agree there aren't quick and easy solutions for this issue. However, since I don't live in Dallas, I confess I don't really care that much about it. Dallas's problem, Dallas's bill to pay. Right?
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Old 05-19-2017, 07:31 AM
 
Location: plano
7,885 posts, read 11,366,761 times
Reputation: 7794
Quote:
Originally Posted by BigDGeek View Post
Please correct me if I'm wrong, but your info says you're in Plano. My understanding of the Dallas Police & Fire pension issue is that taxpayers in the city of Dallas itself will be on the hook for this. So if you're in Plano and they're in Dallas, what's with the "we" stuff?

I agree there aren't quick and easy solutions for this issue. However, since I don't live in Dallas, I confess I don't really care that much about it. Dallas's problem, Dallas's bill to pay. Right?
If you put blinders on this is a lose for Dallas and win for other cities not on this hook. However I believe what happens in Dallas impacts Richardson, Plano, etc. Dallas having this issue may push some to Richardson over Dallas in the short run but a big city with this kind of issue is not good for a region in the long run by a long shot.

I remember some Dallas threads a few years ago proposing to reduce highways to better Dallas and to hell with the commuters from the suburbs. This thinking also is not in the metros general interest in my view.

There is no reason to celebrate this in the metro, other than it finally was addressed and a fix is in place.
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Old 05-19-2017, 10:32 AM
 
Location: North Texas
24,561 posts, read 40,189,983 times
Reputation: 28548
Quote:
Originally Posted by Johnhw2 View Post
If you put blinders on this is a lose for Dallas and win for other cities not on this hook. However I believe what happens in Dallas impacts Richardson, Plano, etc. Dallas having this issue may push some to Richardson over Dallas in the short run but a big city with this kind of issue is not good for a region in the long run by a long shot.

I remember some Dallas threads a few years ago proposing to reduce highways to better Dallas and to hell with the commuters from the suburbs. This thinking also is not in the metros general interest in my view.

There is no reason to celebrate this in the metro, other than it finally was addressed and a fix is in place.
I think you're making more of this than it really is.

Yes, some suburban cities will benefit from experienced first responders leaving Dallas and joining other departments. But I don't think the state of the Dallas police & firefighter pension fund is going to make much difference if Faceless Corporation, Inc. from Chicago or Seattle or Los Angeles decides to relocate to Frisco or Irving. Dallas was already getting bypassed on many big corporate relos and it had nothing to do with the health of a pension fund for cops & firefighters.

I just chalk it up to yet another reason not to live in Dallas proper.
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Old 05-19-2017, 12:20 PM
 
Location: Dallas, TX
944 posts, read 2,037,355 times
Reputation: 761
Quote:
Originally Posted by TheOverdog View Post
That's a tautology - ie it's totally meaningless. Furniture stores also charge interest - so does that mean they are secretly banks?

Interest is charged because the interest rate represents the generalized risk of someone not repaying their loan. Credit scores are tools used to determine someone's individual risk, since banks don't really take your word for such things.
Interest is charged just as much, if not more, to compensate the lender for lending their money to the borrower. Not just to cover the risk of default but to also so the lender gets a return on investment. Otherwise the lender is better off doing something else with that money rather than giving to to the borrower.

When it comes to mortgages default risk is also addressed quite a bit through PMI.
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