Dallas-Fort Worth homebuilding rockets to record level (Waxahachie, Colleyville: appliances, how much)

[loves2read]

Originally Posted by widespreadfan

Affordable house is a serious issue. The only places in my mind where you get a "deal" would be say Arlington or Duncanville and other parts south. Most apartments aren't cheap either. We just moved back here from out of state and were fortunate to find a house in December.

Have friends whose married son left military and moved home. He and wife are living with parents in Colleyville.Guy took job in logistics w Amazon in Forney...so u can imagine that is an hour+ commute unless he is working the graveyard shift. His wife is working not sure where. They are looking in Waxahachi, hoping to get some land...but almost just as bad there...a d they fall into the 325-350k notch where so many people are looking...

[Leonard123]

The article likely refers almost entirely to houses that were contracted on last year. Builders not sold out are putting limits on new sales and in some cases have paused sales altogether. Build times are at least a year out. Wait lists exceed the number of lots available. People are not going to have any more luck with new sales. That article seems to be written by someone who has no concept of the current realities.

I don't see how one can compare the cost of a new and existing house. There are too many variables, and with multiple offers significantly over asking price, it's impossible to make a blanket statement. Right now, some people will pay a premium to get something move-in ready rather than wait a year for a new build job.

Originally Posted by citidata18

Even if you "DON'T" now, the question is "when?"

Do you think we're going to see home prices fall any time soon, or an sufficient increase in supply to meet the current demand any time soon?

The obvious answer would be to buy only when you have to. It's circular reasoning to wait for prices to go down.

Some people don't think prices will ever fall and hardly anyone thinks it will soon, but no one has a crystal ball. I would only say that prices won't go down unless and until the majority of people looking now and people waiting for prices to fall decide to drop out of the market even if they do fall.

[citidata18]

Originally Posted by Leonard123

The obvious answer would be to buy only when you have to. It's circular reasoning to wait for prices to go down.

No argument from me there.

[ChristieP]

Originally Posted by loves2read

Have friends whose married son left military and moved home. He and wife are living with parents in Colleyville.Guy took job in logistics w Amazon in Forney...so u can imagine that is an hour+ commute unless he is working the graveyard shift. His wife is working not sure where. They are looking in Waxahachi, hoping to get some land...but almost just as bad there...a d they fall into the 325-350k notch where so many people are looking...

They won’t get a house with land for that price point unless it’s a mobile home or just 1-2 acres. Many of the new housing developments near Forney and Caddo Mills do have houses around $300.

[jiping]

Originally Posted by Leonard123

The obvious answer would be to buy only when you have to. It's circular reasoning to wait for prices to go down.

Nasdaq gains 50% in 2020. Gold gains 20%. Bitcoin gains 300%.
It's not (only) the price of house or building materials goes higher, but US Dollar is getting weaker with all these $trillion money printing.

You can wait all you want but I suggest you park money smartly, or you are losing the buying power everyday.

[Taynxtlvl]

Originally Posted by citidata18

Even if you "DON'T" now, the question is "when?"

Do you think we're going to see home prices fall any time soon, or an sufficient increase in supply to meet the current demand any time soon?

The supply should start to rebound later this year I'm going to wait until the kids go back to school September/October. also interest rates should start to tick up later this year. That should slow things a little although they will still be historically low. Also, as materials become more available the extra costs for concrete, wood etc. will hopefully abate. If COVID has taught us all one thing it is patience.

[Taynxtlvl]

Originally Posted by jiping

Nasdaq gains 50% in 2020. Gold gains 20%. Bitcoin gains 300%.
It's not (only) the price of house or building materials goes higher, but US Dollar is getting weaker with all these $trillion money printing.

You can wait all you want but I suggest you park money smartly, or you are losing the buying power everyday.

Agreed!

[Rakin]

So when Politicians tell you there is little to no Inflation, fill up your gas tank and buy a house. And don't believe them.

[Katana49]

Originally Posted by Rakin

So when Politicians tell you there is little to no Inflation, fill up your gas tank and buy a house. And don't believe them.

Inflation is coming alright. For perspective, it cost us $3k to ship a container from China to New York last year. Right now, it's $11k. So you can imagine all the things that get shipped from China here... appliances, fixtures, hardware... all those things needed to build a house are seeing the same kind of transportation cost increases. The suppliers have to pay that cost, and they pass it along to the builders, who pass it along to home buyers.


I suppose the only good news is that pricing is now a lot more equal to American manufacturing cost, we've been able to convert several SKUS back to US suppliers.

[Leonard123]

Originally Posted by Rakin

So when Politicians tell you there is little to no Inflation, fill up your gas tank and buy a house. And don't believe them.

For most people, a house is first and foremost a place to live, not an investment vehicle. This is turning into the panic buying we saw with toilet paper. If everyone would go back to his or her pre-pandemic house shopping patterns, we wouldn't be in this mess. The result has been to leave nothing for those who are seeking to buy for rational reasons.