Which Dallas suburb will die first? (Plano, Garland: 2010, condos, new home)

[little elmer]

Originally Posted by Saintmarks

This economy doomsday stuff is being blown WAY out of proportion IMO. We are hurting, yes. Priorities are shifting, yes. I just don't see it quite as dramatic as some here, however.

Saint, I think we're cushioned somewhat here in the metroplex - things are actually really bad where bubbles have popped. But again, there are those who have guarded themselves better than others.

It's the households here that have tried to emulate the lifesyles we're seeing in more affluent areas of the country that have gotten people in trouble, imo.

Back on topic, sorry.

[FarNorthDallas]

I wonder how Savannah and Providence subdivisions out on 380 are going to do long term. My thought is it won't be pretty.

Those are the only areas I can think of that might "die out" during the current economic downturn. These others, The Colony, Lancaster, DeSoto, Rowlett, will be okay as they are mostly establised, populated and offer inexpensive housing.

I don't know what to make of Frisco. It seems precarious.

[Pecos_Drifter]

Originally Posted by Saintmarks

I would say that The Colony with much more affordable housing and more rentals will be more primed to take in those losing their McMansions in neighboring Frisco, Plano, etc.

But it's still The Colony, a run down looking town with plenty of nail places, beer stores and muffler shops....Fox & Jacobs joke houses, slum lords rentings...yes, it will be around

[little elmer]

Originally Posted by Pecos_Drifter

But it's still The Colony, a run down looking town with plenty of nail places, beer stores and muffler shops....Fox & Jacobs joke houses, slum lords rentings...yes, it will be around

You paint such a lovely picture of our neighbors to the south; if it gets as bad as you're describing, we might have to kick in that "white flight" gear again.

[bluescreen73]

I think people are hastily predicting the collapse of urban/suburban living. If you wanna go look at "dead" areas drive 287 between Wichita Falls and Amarillo. Towns like Clarendon, Memphis, and Claude are barely hanging on.

Our society in this country was transformed by the industrial revolution. People left farms and small towns in droves for the big city because that's where the jobs were. This recession we're in is nothing more than a temporary setback. It may take 3-5 years for home sales to pick back up, but if history says anything they will.

The problem with subjective statements such as these is that an area's perception can and will change over time. Areas go through cycles of development, decay, and rejuvenation. 20 years ago the LoDo area of Denver was a cesspool of vacant warehouses, now it's one of the more haute areas of town complete with loft apartments and bustling retail shops.

Who's to say that the redevelopment efforts that people are trying to push into South Dallas won't remake the landscape of that area completely?

[zatires]

This recession we're in is nothing more than a temporary setback. It may take 3-5 years for home sales to pick back up, but if history says anything they will.

So 11 trillion dollars of debt, and 1 trillion each year for the next 4 to be mounted on top,
Total government debt of more than 60 trillion
More than 3 trillion dollars wiped out of pension funds and 401ks in the last 6 months alone.
Almost all of the major banks are actually bankrupt and are being nationalized (major banks, the largest banks, not the 80s bank failure of small banks)
Excessive deflation for the last 1 year or so
And excessive stagflation waiting
Consumer confidence lowest ever in the history
The highest government unemployment rate within the last 15 years, and climbing significantly (anybody heard Microsoft is laying off 5000 people for the first time in their history - not even in the dotcom bust)
The shrinking consumer spending, first time in the history of statistical data for 2008 holiday season
The worst housing bust ever in the history of this country, and there still is no relief in sight
Bank of America, the largest bank in the US is failing and is bankrupt
Citibank is bankrupt
JPM Chase is having dire times, most likely waiting for the US government to take over
Europe is not different they are having the exact same crisis as the US.

And you call that only a "temporary setback".

This is called the worst financial crisis in the last 100 years. It is not just a temporary setback...

PS: We already passed recession phase, we are in the start of the depression phase right now;

[portyhead24]

^^^^^
You're such a doomsdayer Debbie Downer how bout a lil humor?

(don't click on the link if a couple of 4 letter words offend you)

http://1.bp.blogspot.com/_PG9h1CS1df.../happy-kid.jpg

[bluescreen73]

zatires - In the grand scheme of things, yes, it is a temporary situation. A VERY temporary one. This country survived the Great Depression, it will survive this, and I don't personally believe this will be anywhere near as bad as it was in the 1930's. Hell we're not even to double digit unemployment yet.

[Texan#1]

Originally Posted by bluescreen73

I think people are hastily predicting the collapse of urban/suburban living. If you wanna go look at "dead" areas drive 287 between Wichita Falls and Amarillo. Towns like Clarendon, Memphis, and Claude are barely hanging on.

Our society in this country was transformed by the industrial revolution. People left farms and small towns in droves for the big city because that's where the jobs were. This recession we're in is nothing more than a temporary setback. It may take 3-5 years for home sales to pick back up, but if history says anything they will.

The problem with subjective statements such as these is that an area's perception can and will change over time. Areas go through cycles of development, decay, and rejuvenation. 20 years ago the LoDo area of Denver was a cesspool of vacant warehouses, now it's one of the more haute areas of town complete with loft apartments and bustling retail shops.

Who's to say that the redevelopment efforts that people are trying to push into South Dallas won't remake the landscape of that area completely?

I like the way you think.

[DoomedRepeat]

"A VERY temporary one" I'm afraid not. I try to be glass half full, but were seeing things worldwide that don't back up the claim above. The UK may be the worst off, and in dire straits before this over. Anglo-America built this house and to lose a pillar will have long, perhaps forever lasting effect. I'm not suggesting quit your job and grow corn for the kids, but do keep an eye open. This is not trivial.