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Old 06-06-2007, 12:20 PM
 
Location: Lake Highlands (Dallas)
2,395 posts, read 7,607,050 times
Reputation: 1033

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Quote:
Originally Posted by socketz View Post
Correct. We agreed on this earlier in another thread. It's just the percentage of 'less than you can afford' is where we are different.

For the areas I wanted to live, I was not happy with the sub 250k housing, but when I jumped to 300k, things changed. I also worry about the number of foreclosures in the sub 250k range because I'm still trying to look at the home as some sort of investment, even if the returns are low.
I know we agree on this point, I was just trying to get people that are moving here or looking at housing to think about the concept. We actually also agree on house pricing, with a slightly nicer area/builder being the better investment in the long term. The only reason my house was ~250K was because it was a "handyman special", which should improve my return since I do most of the work myself, saving a bundle in the process.

 
Old 06-06-2007, 12:34 PM
 
Location: Plano
283 posts, read 1,016,680 times
Reputation: 252
Quote:
Originally Posted by aceplace View Post
It seems strange that the price of rents has not paralleled the price of purchasing a house. Do you have any idea why that should be the case? I would think that rents should be governed by the same laws of supply and demand.
Here's the simple answer:

When lending got easy, more people started buying houses than ever before. Parents bought condos for their college-age kids as investments, first time homebuyers bought into the market, moving many people that would have been renters into homeowners and depressing rents.

Over time, as someone else said, many apartments were converted into condos and now there are tons of foreclosures - so the supply of apartments is down and the demand is up. Now rents are increasing as house prices come down.

It'll all even out eventually, temporarily, before the next crazy California real estate cycle begins.
 
Old 06-06-2007, 02:19 PM
 
3,035 posts, read 13,020,476 times
Reputation: 894
OR

Will the next cycle be here ?

I see nothing but positive press on our area these days.

Here's one from today:

Study says Dallas fosters solid growth - Dallas Business Journal:
 
Old 06-06-2007, 04:21 PM
 
Location: Lake Highlands (Dallas)
2,395 posts, read 7,607,050 times
Reputation: 1033
I just don't see DFW ever getting crazy appreciation rates. We just have too much land to spread. When you don't have an ocean on one side and mountains on the other, we can sprawl which keeps appreciation moderated. Lots of room to create supply.

At some point, commute will put a cap on it and distance from a major center will play a role to have areas with higher appreciation (like we have a bit of already). I think we've got a while before that plays a major factor though.
 
Old 06-06-2007, 04:30 PM
 
16,092 posts, read 35,779,846 times
Reputation: 6264
Well 150+% over the last 5 years (according to DCAD) seems crazy to me! Actually I would hope to sell for more if I were selling.
 
Old 06-06-2007, 06:02 PM
 
Location: Alexandria, VA
1,078 posts, read 3,438,078 times
Reputation: 486
Quote:
Originally Posted by socketz View Post
I've spent the last 3 days here playing with my kids outside....even got a little sunburn. And guess what, this is normal, pretty much 365 days a year. Life is just different here. Simple things are very enjoyable because you never even need to think about weather. For 15 years, I haven't even worn a sweater or owned a set of all season tires.

It creates a sense of optimism that is unmatched anywhere in the world.

Went to hop on a plane to fly home to TX, and the flight was cancelled. More tornado warnings. What are we now going into out third straight month of spring storms ? I grow tired of Spring storms, that will be followed by oppressive summer heat....but October-Nov will be here soon, guess I'll just live for those 2 months.

Yes, you can discount weather and access to the pacific rim all you'd like, but CA is 13% of the US GDP and growing. Sorry, college kids and hippies aren't pulling that load. There is a tremendous amount of wealth/intellect in the state, even more opportunity for new wealth.

Again, I'm really wasting my time trying to explain this - I think people either possess the ability to think Californian, or they do not - it's a state of mind.

So I will stop now and let you guys hold the victory torch. Why, because I could care less what you think and I know 'winning' seems to mean alot to many here on the TX boards, so you can win.

I've lived/live in both places and am extremely bullish on the future of CA. This net migration argument is a dead horse that has been beaten over and over for at least the 15 years I lived in Socal.

I actually pray for the day that everyone thinks like you two.....maybe then I'll move back and buy a gas station on the 101 and spend my silver years surfing.



Again, you're entitled to your opinion.
Socketz, it is not about winning...it is about being realistic. For us, the crime, the traffic, the poor schools, the politics, and the excessive cost of living here in Cali make it something that it once was not. I remember some years ago, living in the IE and it taking only about 2 hours to get to Newport Beach. As it stands I would not ever want to live in the IE again, YUCK!! And the commute to the beach is much longer now.
I don't have the mind set to live in Cali the way it is now, you are right. To me, weather is not everything. Quality of life for my family is much more than the weather.
For your family it seems that sunshine 365 is paramount, that is fine, for us it just isn't.
We all have to find that place that is home, and what the means to each of us is very different. No place is going to be perfect.
I glad you have found yours.
Now let us find ours. And accept that what I, or anyone else needs to find home may be very different than what you need as home, and that is quite alright...this is not a contest, it is our hope to find home, just as you have.

MBG
 
Old 06-06-2007, 07:30 PM
 
3,035 posts, read 13,020,476 times
Reputation: 894
Quote:
Originally Posted by lh_newbie View Post
I just don't see DFW ever getting crazy appreciation rates. We just have too much land to spread. When you don't have an ocean on one side and mountains on the other, we can sprawl which keeps appreciation moderated. Lots of room to create supply.

At some point, commute will put a cap on it and distance from a major center will play a role to have areas with higher appreciation (like we have a bit of already). I think we've got a while before that plays a major factor though.
I don't see think we'll see large scale appreciation across the entire metroplex, but I do see that there will be (or already has been) solid appreciation in certain areas within a certain segment of homes. I don't think 10%-20% over the next 3 years is unrealistic.

Firewheel, certain exclusive parts of Dallas, certain exclusive areas in Collin county, etc. The quantity of these types of homes is relatively small and the influx of outsiders looking for these types of upscale homes is growing.

I also see that commuting distance may be a determining factor in the near future as well, that's until the northern burbs attract 2-3 more large companies, which will distribute the employment well across our side of the Metroplex. Both Mckinney and Frisco are agressively trying to attract new business. There is also the infrastructure which Dallas/Collin County seem to be on top of...
 
Old 06-06-2007, 07:33 PM
 
3,035 posts, read 13,020,476 times
Reputation: 894
Quote:
Originally Posted by midnightbirdgirl View Post
Socketz, it is not about winning...it is about being realistic. For us, the crime, the traffic, the poor schools, the politics, and the excessive cost of living here in Cali make it something that it once was not. I remember some years ago, living in the IE and it taking only about 2 hours to get to Newport Beach. As it stands I would not ever want to live in the IE again, YUCK!! And the commute to the beach is much longer now.
I don't have the mind set to live in Cali the way it is now, you are right. To me, weather is not everything. Quality of life for my family is much more than the weather.
For your family it seems that sunshine 365 is paramount, that is fine, for us it just isn't.
We all have to find that place that is home, and what the means to each of us is very different. No place is going to be perfect.
I glad you have found yours.
Now let us find ours. And accept that what I, or anyone else needs to find home may be very different than what you need as home, and that is quite alright...this is not a contest, it is our hope to find home, just as you have.

MBG

I guess in the end, we both just had completely different experiences in CA. The same thing could happen here, who knows. At this point in my life, I'm happy here and look forward to next few years. After, I'll look at it again and see if it remains the right place for me and the family.
 
Old 06-06-2007, 08:45 PM
 
Location: Lake Highlands (Dallas)
2,395 posts, read 7,607,050 times
Reputation: 1033
Ok, totally off topic here, but I have to say it:

CONGRATS TO THE MIGHTY DUCKS! They just won the Stanley Cup!!!
 
Old 06-07-2007, 11:21 PM
 
Location: Plano
283 posts, read 1,016,680 times
Reputation: 252
I posted the other day on this thread that California rentals were going up - looks like I was wrong in regards to San Diego at least. Just didn't want to leave wrong info out there:

SignOnSanDiego.com > News > Business -- More apartments available for less
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