Is the DFW real estate market cooling off? (Plano: mortgages, loan)

[kyam11]

Originally Posted by HP48G

There is a shortage of construction workers in TX..all builders have been complaining about it for years already. Wages are up for these workers still they're too low to convince the natives that working outdoors all day long in the summer weather is a desirable career path.

And then you get people complaining that wages aren't high enough who do jobs that pay less than these are. What that really means is that they don't want to put the work in to achieve these higher wages and that they are short sighted because many of these people working construction have the ability if they stay to move up the ladder down the road.

[BigDGeek]

Originally Posted by HP48G

There is a shortage of construction workers in TX..all builders have been complaining about it for years already. Wages are up for these workers still they're too low to convince the natives that working outdoors all day long in the summer weather is a desirable career path.

The natives did these jobs before, they still do some of them now, and plenty of them would love to continue doing them if they could find work without being passed over by Hispanic foremen who only want Spanish speaking workers or if they weren't continuously underbid by companies who have illegal crews and pay them less than a living wage.


It's not a level playing field and it has less to do with working in the heat than you think.

[iberanon]

If you get rid of illegals the wage will go way up. If they pay me $200,000 a year to do construction I'll do it.

[sara212]

Originally Posted by kyam11

What a ridiculous post.

First of all in the real world most people don't look at things in a vacuum. They look at things and the alternatives to those things. Most things in life are graded on a curve. You are not compared at work to a perfect scenario, but compared to other co workers or to workers you could be replaced with, etc.

The reality is that most people in the US want to live in one of the top 20 cities by population due to jobs, infrastructure, etc. That means NYC, LA, SF, Seattle, Dallas, Houston, Austin/SA, Atlanta, Denver, Chicago, SD, Philly, Boston, DC, Phoenix, and a couple others.

DFW is very affordable. Where else can you live in an upper tier suburb (Frisco, Mckinney, Plano, NRH, Keller, etc) where 2 people making $75,000 each can afford it and rather easily? Houston, SA, DFW, Atlanta and that is about it.

Traffic is bad? Laughable. LA, NY, Boston, Chicago, SD, SF, Atlanta, Houston is bad traffic. Longest it has ever taken me to get from 75/635 to the DFW airport is about 50 minutes during rush hour in the afternoon. My wife's 28 mile commute in the Bay Area used to take her an hour and 20 minutes every single day and that was if she left anytime between 6:30AM to 9:30AM. My buddy has a 45 minute commute from Lake Forest to Irvine in the morning and it's about 13 miles.

One of the greatest things about this country is that it is pretty damn easy to make $75,000 if you make decent (not even good) decisions in your life. What's even better is that for $350,000 or so in DFW you can live in an incredible suburb with good schools that is extremely safe.

The fact of the matter is that house prices are rising here because demand is great due to the things I pointed out above. The reason people can afford these things are that they have the means to pay for them and if you are being "priced out" then make more money. You had every opportunity to increase your income over the last 10 years. I can go on any job board for DFW and find hundreds of jobs that pay over $60,000 a year. If you aren't qualified for those then that is your fault.

Found the snob

You are really out of touch with reality dude. ( I should say most people's reality because clearly your own reality is a very privileged one). Good for you!

[BigDGeek]

Originally Posted by iberanon

If you get rid of illegals the wage will go way up. If they pay me $200,000 a year to do construction I'll do it.

Most people would, but you wouldn't be able to afford a house!


DH and I don't want to deal with illegal immigrant construction workers and the prices contractors charge nowadays are very high for both labor and materials (even though the workers themselves may not be getting paid much per hour). For the moment we're doing our own manual labor, which often means working outdoors for hours on end in 95+ temperatures. Basically, doing the exact same thing people accuse Americans of being "too good to do". And we're doing it for free after each of us working a full day at the office.

[kyam11]

Originally Posted by sara212

Found the snob

You are really out of touch with reality dude. ( I should say most people's reality because clearly your own reality is a very privileged one). Good for you!

Got it. You want excuses as to why one can't prosper in this country. It truly is the exact opposite unless you make multiple poor decisions. DFW is an incredible affordable area and I find it simply amazing that a normal Joe and Jane can live an incredible life while having decent normal jobs.

A couple who is a teacher and an insurance agent making $100K combined can live in a world class city and an upper tier suburb (North Richland Hills for example) and buy a house for $265,000. They get a little over 2000 sf with 3 BR with a nice backyard in an area with good schools that is safe. That is incredible and wonderful to me.

[TeamLynn]

Since we are a non-disclosure state Zillow uses what information they can find. One is mortgage info. So you're probably the odd cat that is not mortgaged to the hilt. Since you probably have way more equity than the dogs in your neighborhood, Zillow used that to drop your value. That's why Zitimate is the number people love to hate. Obviously they hit the number now and them, but in Texas their margin of error is fairly significant.

[mSooner]

This is the sort of overpricing I've seen lately:

641 Shadowcrest Ln, Coppell, TX 75019 - realtor.com®

They're dreaming. The home is just over 2000 square feet and has almost no updates. And they can go to the (slightly less desirable, but same elementary) neighborhood across the street and get an updated house that is the same size for under $300k.

[BigDGeek]

Originally Posted by mSooner

This is the sort of overpricing I've seen lately:

641 Shadowcrest Ln, Coppell, TX 75019 - realtor.com®

They're dreaming. The home is just over 2000 square feet and has almost no updates. And they can go to the (slightly less desirable, but same elementary) neighborhood across the street and get an updated house that is the same size for under $300k.

I thought Coppell was pricier than that.


That house in my neighborhood in Richardson would sell for that, easily. Possibly more.

[BongoBungo]

Originally Posted by Hacker1234

I really feel for the Millennials, we bought our first home in Frisco years ago with a very modest income. If I still had that job I could not buy our first home today.

Cost of living is shooting up much faster then incomes.

As a Gen X'er the real estate market was brutal even for me. The millennials really get the short end of the stick. For the past several decades, housing costs have increased as a proportion of income.
I work with a lot of young millennials and many of the ones making well above the median income can't afford to live anywhere near offices in the Irving or downtown Dallas business hubs (unless they are single without children). Some companies around here are having to transition to part time telecommuting or moving their office to Plano or McKinney just to attract young talent. If you look at neighborhoods in the exurbs like up in Celina, they are full of young families who can't afford to raise a family anywhere closer to the heart of the metroplex.