Softening in RE market?? (Dallas, Plano: landlords, fence, relocation)

[crazyforger]

Originally Posted by RoamingTX

And in order to not be homeless. You need housing.

The whole point was that your statement did not make any sense.

You have your reasons for not buying (not enough income). That doesn’t impact everyone.

Selection Bias....good job
I do have enough income and can afford to buy if you have followed my posts.

[RoamingTX]

Originally Posted by crazyforger

Selection Bias....good job
I do have enough income and can afford to buy if you have followed my posts.

No. You’ve stated that housing was a luxury. Housing is necessary to not be homeless. HOMEOWNERSHIP is a luxury - perhaps that’s what you’ve meant?

And no. You’ve specifically highlighted the fact that you would have to choose between investing and owning.

[Taynxtlvl]

This post is interesting. Home ownership is maybe not a luxury but a choice. But it's a choice with long lasting ramifications so it can't be entered into or backed out of as lightly as other choices. Also depending on the circles one is in I get the feeling that it's more acceptable to own than not. That being said the DFW are especially Dallas proper portions of oak cliff, lakewood, the northern burbs and the affluent areas such as bedford hurst, euless. have seen prices go on a tear in the last 5 to 7 years. Prohibitively so for many including single earners, the millennials who are starting to make real money, and those on fixed incomes are seeing things outpace their incomes. All the corporate relocations have been a blessing and a curse to the market and the transplants from California, the northeast, and foreign investors have made it tougher for sure.

It does appear the market is softening in DFW but we'll have to see how long it lasts we'll know more especially toward spring. The nations economy and housing market overall appear to be slowing and look increasingly volatile. College loan debt and credit card debt have surpassed what they were in 2008 before the recession I was reading recently, so that's something to keep an eye on.

That being said it's certainly cheaper to buy now than in quite a while so if someone was on the fence about buying the getting appears to be "good" I personally am going to wait a bit longer as well, and when I do I'll go in with the mindset of the home being a potential rental down the line.

[crazyforger]

Originally Posted by RoamingTX

No. You’ve stated that housing was a luxury. Housing is necessary to not be homeless. HOMEOWNERSHIP is a luxury - perhaps that’s what you’ve meant?

And no. You’ve specifically highlighted the fact that you would have to choose between investing and owning.

You have missed the second aspect of the post
Hobo is used for people who are below poverty level. And its derogatory.

And yes...I meant Homeownership.

Currently its luxury. It might change in future.

[crazyforger]

Originally Posted by Taynxtlvl

This post is interesting. Home ownership is maybe not a luxury but a choice. But it's a choice with long lasting ramifications so it can't be entered into or backed out of as lightly as other choices. Also depending on the circles one is in I get the feeling that it's more acceptable to own than not. That being said the DFW are especially Dallas proper portions of oak cliff, lakewood, the northern burbs and the affluent areas such as bedford hurst, euless. have seen prices go on a tear in the last 5 to 7 years. Prohibitively so for many including single earners, the millennials who are starting to make real money, and those on fixed incomes are seeing things outpace their incomes. All the corporate relocations have been a blessing and a curse to the market and the transplants from California, the northeast, and foreign investors have made it tougher for sure.

It does appear the market is softening in DFW but we'll have to see how long it lasts we'll know more especially toward spring. The nations economy and housing market overall appear to be slowing and look increasingly volatile. College loan debt and credit card debt have surpassed what they were in 2008 before the recession I was reading recently, so that's something to keep an eye on.

That being said it's certainly cheaper to buy now than in quite a while so if someone was on the fence about buying the getting appears to be "good" I personally am going to wait a bit longer as well, and when I do I'll go in with the mindset of the home being a potential rental down the line.

Good post.

In my view Homeownership is currently a luxury due to high prices and tax reform. It can change over time and I would opt for it when it becomes a choice.

Because of herd mentality, lot of friends and family have bought big houses at very high prices.
I don't want to spend money and buy a reasonable house just to feel poor
I am part of that herd too....so I would buy similar house when the price is right


Lets look at the below article which supports Home Ownership in detail

https://www.creditdonkey.com/why-own.html

The reasons mentioned used to make sense before.
But in current scenario, each and every one of the points get thrown out of the window if you rent at a good place and maintain the same school district and don't have pets.

Not to mention that the jobs are being increasingly mobile.
You can't expect to stay put at one place for 10 years without bearing opportunity losses either in terms of well being, standard of living,money, career or stability.

[yjc281]

Originally Posted by crazyforger

Good post.

In my view Homeownership is currently a luxury due to high prices and tax reform. It can change over time and I would opt for it when it becomes a choice.

Because of herd mentality, lot of friends and family have bought big houses at very high prices.
I don't want to spend money and buy a reasonable house just to feel poor
I am part of that herd too....so I would buy similar house when the price is right


Lets look at the below article which supports Home Ownership in detail

https://www.creditdonkey.com/why-own.html

The reasons mentioned used to make sense before.
But in current scenario, each and every one of the points get thrown out of the window if you rent at a good place and maintain the same school district and don't have pets.

Not to mention that the jobs are being increasingly mobile.
You can't expect to stay put at one place for 10 years without bearing opportunity losses either in terms of well being, standard of living,money, career or stability.

Agree that homeownership is a luxury and a big trade off. I lived in various apartments for 10 years before buying the first home. Not being tied up by a house did give me a lot more flexibility to relocate for a new/better job. (yes it's possible to sell a house but certainly not as easy)
Although my home has increased a lot in value, given the high taxes and maintenance I probably at best break-even if I sell it. However there are a lot of non-financial benefits to own a home. And the quality of life is certainly better compare to life in the apartments. In addition, the rent has gone up a lot. I feel lucky that I bought in 2009 when the price was a lot lower therefore "locked-in" the lower housing costs.(Rent was quite cheap too, brand new two bedroom apartment about 1100 sqft was only $1000 a month)
Many things have changed though. Moving expense deduction is gone making relocation even more expensive today, although gas is at record low...

[crazyforger]

Originally Posted by yjc281

Agree that homeownership is a luxury and a big trade off. I lived in various apartments for 10 years before buying the first home. Not being tied up by a house did give me a lot more flexibility to relocate for a new/better job. (yes it's possible to sell a house but certainly not as easy)
Although my home has increased a lot in value, given the high taxes and maintenance I probably at best break-even if I sell it. However there are a lot of non-financial benefits to own a home. And the quality of life is certainly better compare to life in the apartments. In addition, the rent has gone up a lot. I feel lucky that I bought in 2009 when the price was a lot lower therefore "locked-in" the lower housing costs.(Rent was quite cheap too, brand new two bedroom apartment about 1100 sqft was only $1000 a month)
Many things have changed though. Moving expense deduction is gone making relocation even more expensive today, although gas is at record low...

Yes, there are lot of non-financial benefits of owning a house.
It is something that you can see, feel and enjoy as compared to your stock portfolio.


But off late, it has become a pain in the butt.
If you own an expensive home, you will have to cut back on discretionary spending like going out to eat at restaurants or a family trip etc. This trade off is what I don't like.

One must feel happy to own a house.....but based on what I hear, it feels like a burden.

[djslakor]

Originally Posted by crazyforger

If you own an expensive home, you will have to cut back on discretionary spending like going out to eat at restaurants or a family trip etc.

Umm, no I haven't.

[kyam11]

Originally Posted by crazyforger

Yes, there are lot of non-financial benefits of owning a house.
It is something that you can see, feel and enjoy as compared to your stock portfolio.


But off late, it has become a pain in the butt.
If you own an expensive home, you will have to cut back on discretionary spending like going out to eat at restaurants or a family trip etc. This trade off is what I don't like.

One must feel happy to own a house.....but based on what I hear, it feels like a burden.

You have forgone a massive amount of appreciation because you did not buy. Let's not act like you made a great decision financially. I am not talking about 2017. I am talking about the years before that when you didn't buy. Now you deciding not to buy in 2017 because you think it has hit the top I have no issue with.

[crazyforger]

Originally Posted by kyam11

You have forgone a massive amount of appreciation because you did not buy. Let's not act like you made a great decision financially. I am not talking about 2017. I am talking about the years before that when you didn't buy. Now you deciding not to buy in 2017 because you think it has hit the top I have no issue with.

Lol...not sure how many times I need to repeat myself.
I did buy before 2017....started buying in 2009 and still hold them.

Anyways that's not the point.......we are talking about current situation.
Whether I bought before or not doesn't really matter.
It's better if you focus on the topic rather than on me for which I am flattered btw 😊