The Affordable Housing Shortage Hits Dallas Almost As Hard As California Metros (San Diego: real estate, rentals)

[JJonesIII]

We're good Mutt. Thanks. No need to have you involved.

[Tulemutt]

Originally Posted by JJonesIII

We're good Mutt. Thanks. No need to have you involved.

In other words, I nailed it. Your argument makes no sense?

[JJonesIII]

I'm sorry Mutt. The conversation between me and Montclair is over. I'm sorry if you weren't able to participate. I think I hear Christopher Cross in the background playing your song.

[Tulemutt]

Lol. Ok. I nailed it.

[JJonesIII]

This should settle you down. Have a great day. I think there's a sale on spinach at the store.

https://www.youtube.com/watch?v=7khQNR7s1Ho

[Tulemutt]

Ok then. Moving on.

It’s getting harder for people in Dallas-Fort Worth and other big cities in Texas to find affordable homes or apartments because the cost of housing is outpacing salaries.

That’s according to a new report from Harvard University.

...

Unemployment rates and downward spirals in home values weren’t nearly as bad in Texas during the national economic downturn as they were in other parts of the country. But the state’s large urban areas are still experiencing similar mismatches between housing stock and income as other American metropolitan areas.

Harvard researchers, elected Texas officials and development industry experts point to a number of reasons for the lack of affordable housing. They say that everything from stricter financing requirements to government regulations and labor shortages can drive project costs up to the point where smaller homes and rental properties for low-income people aren’t cost effective to build.

“Conditions are particularly tight at the lower end of the market, likely reflecting both the slower price recovery in this segment and the fact that fewer entry-level homes are being built,” the Harvard report said.
In Texas, Finding Affordable Housing Is Tougher Than Ever, Study Finds | KERA News

[likealady]

Originally Posted by 18Montclair

Im just grateful you didnt put up another pic of a man's head

Anything else?

I'm a little concerned by the fact you don't know who Jackie Chan is. Also, you don't understand memes I guess?

[Shooting Stars]

Originally Posted by 18Montclair

Low income households make up the majority of Californians moving to TX, now it's getting to expensive there as well...

https://www.bisnow.com/dallas-ft-wor...ac-2-89522#ath

I have NEVER read anywhere that the majority of Californians moving out of state are low income - the majority are middle income.

https://www.ocregister.com/2017/04/2...d-intensifies/

EXCERPT from above article:

"A dive into Internal Revenue Service data shows distinctly that, while poor people are indeed leaving, the largest group of outmigrants tends to be middle-aged people making between $100,000 and $200,000 annually.

They may not be ideal algorithm creators for Facebook, but they do constitute the solid middle ranks critical to any healthy economy.

Indeed, since 2010, the Golden State has seen an overall net outflow of $36 billion from these migrants (and that counts only the first year of income).

The biggest gainers from this exchange are where Californians are moving, to such places as Texas, Arizona and Nevada. That some California employers are joining them in the same places should be something of a two-minute warning for state officials."

[Shooting Stars]

Californians, who obviously are not low income, are blamed for skyrocketing prices in Austin, TX, which have gone up higher than Dallas and Houston. Californians are attracted to Austin.

California's mess has been distorting other markets for a while.

https://www.kvue.com/article/news/in.../269-396030496

EXCERPTS:

"The Defenders looked at wages and home prices over the last 26 years in the city and found family incomes rose 97 percent. At the same time, median home prices rose 290 percent."

"It's tough not to blame everything on the 160 people who move here every day, and for some they blame California. A recent study looked at where all of the people moving here are coming from and it's primarily California."

[18Montclair]

Originally Posted by Shooting Stars

I have NEVER read anywhere that the majority of Californians moving out of state are low income - the majority are middle income.

https://www.ocregister.com/2017/04/2...d-intensifies/

EXCERPT from above article:

"A dive into Internal Revenue Service data shows distinctly that, while poor people are indeed leaving, the largest group of outmigrants tends to be middle-aged people making between $100,000 and $200,000 annually.

They may not be ideal algorithm creators for Facebook, but they do constitute the solid middle ranks critical to any healthy economy.

Indeed, since 2010, the Golden State has seen an overall net outflow of $36 billion from these migrants (and that counts only the first year of income).

The biggest gainers from this exchange are where Californians are moving, to such places as Texas, Arizona and Nevada. That some California employers are joining them in the same places should be something of a two-minute warning for state officials."

IRS data has it's usefulness but Id rather rely on actual census data for this as it covers everyone...

Every year from 2000 through 2015, more people left California than moved in from other states. This migration was not spread evenly across all income groups, a Sacramento Bee review of U.S. Census Bureau data found. The people leaving tend to be relatively poor, and many lack college degrees. Move higher up the income spectrum, and slightly more people are coming than going.

About 2.5 million people living close to the official poverty line left California for other states from 2005 through 2015, while 1.7 million people at that income level moved in from other states – for a net loss of 800,000. During the same period, the state experienced a net gain of about 20,000 residents earning at least five times the poverty rate – or $100,000 for a family of three.

https://www.sacbee.com/news/state/ca...136478098.html

Low-income folks moved out, high-income folks moved in

People making $55,000 or less a year were mostly moving out of California between 2007 and 2016, the report found, while people making more than $200,000 a year moved in.

More of those residents with lower income were moving to states like Texas, Nevada and Arizona. And more of those with higher incomes were coming into California from states like New York, Illinois, and New Jersey.

Leaving California: Here's who's moving out, who's moving in. - The San Diego Union-Tribune