Buying a House: Houston vs Dallas (Marshall, Ross: sale, bankruptcy, prices)

[supfromthesite]

Dallas is more upscale and uppity. I believe that is why

[citidata18]

Originally Posted by supfromthesite

Dallas is more upscale and uppity. I believe that is why

No.

[supfromthesite]

Well, you've convinced me.

[ParaguaneroSwag]

Originally Posted by supfromthesite

Well, you've convinced me.

Why would anyone waste their time explaining something so dumb. Common sense isn’t learned

[LocalPlanner]

Originally Posted by ParaguaneroSwag

Why would anyone waste their time explaining something so dumb. Common sense isn’t learned

Seriously. This thread has already offered a couple plausible explanations - stronger economy, lack of MUDs, etc.

[KerrTown]

Originally Posted by Mr. Clutch

Definitely wasn't always this way, historically they were about the same with Houston being slightly more expensive at times.

DFW has gotten a lot more expensive (at least relative to Houston) in the last decade or so, particularly as we started to come out of the recession. I'd chalk it up to the economy there more than anything else.

Californians cashing out is the most likely cause. In the Austin thread, a study revealed that Californians were more likely to choose Dallas.

Also Dallas is heavily consumer facing companies, dependent on consumption (despite disposable income declining for the last decade). Brick-and-mortar retail isn't doing too well--Pier 1 is gone and Neiman-Marcus, J.C. Penney, etc. are about to follow.

[citidata18]

Originally Posted by KerrTown

...Also Dallas is heavily consumer facing companies, dependent on consumption (despite disposable income declining for the last decade) .Brick-and-mortar retail isn't doing too well Pand Neiman-Marcus, J.C. Penney, etc. are about to follow...

Alarmist much?

First, Brick-and-mortar has been better days, but it still makes up well over 80% of retail sales. Plus, J.C. Penney and Neiman Marcus got breath of life after shedding their debt in bankruptcy. If anything, while leaner, they are meaner and in a better position than other large chains.

Furthermore, as far as Dallas' makeup of consumer-facing industries, what you fail to mention is that those "consumer facing companies" also include industries such as Finance/Insurance/Real Estate and Professional Business Services which, given these industries tend to serve wealthy individuals and corporate clients, are not directly affected by the decline in disposable income.

Despite the name recognition of retailers in Dallas, they're a small share of the regional economy.

https://www.dallaschamber.org/wp-con..._Diversity.pdf

[As Above So Below...]

Originally Posted by KerrTown

Californians cashing out is the most likely cause. In the Austin thread, a study revealed that Californians were more likely to choose Dallas.

Also Dallas is heavily consumer facing companies, dependent on consumption (despite disposable income declining for the last decade). Brick-and-mortar retail isn't doing too well--Pier 1 is gone and Neiman-Marcus, J.C. Penney, etc. are about to follow.

No, that is not what Dallas' economy depends on.

[ParaguaneroSwag]

Originally Posted by KerrTown

Californians cashing out is the most likely cause. In the Austin thread, a study revealed that Californians were more likely to choose Dallas.

Also Dallas is heavily consumer facing companies, dependent on consumption (despite disposable income declining for the last decade). Brick-and-mortar retail isn't doing too well--Pier 1 is gone and Neiman-Marcus, J.C. Penney, etc. are about to follow.

You think Houston retail companies weren't hit hard? Right. Stage Stores/Gordmans and their 700+ stores had to close. Francesca's barely just got a breath of life. Men's Warehouse/Jos A Bank emerged from bankruptcy but their damage is done. Academy Sports & Outdoors did boom in the pandemic though, they were the exception. Oh and Mattress Firm wasn't impacted much either.

Originally Posted by citidata18

Alarmist much?

First, Brick-and-mortar has been better days, but it still makes up well over 80% of retail sales. Plus, J.C. Penney and Neiman Marcus got breath of life after shedding their debt in bankruptcy. If anything, while leaner, they are meaner and in a better position than other large chains.
Despite the name recognition of retailers in Dallas, they're a small share of the regional economy.

https://www.dallaschamber.org/wp-con..._Diversity.pdf

Neiman Marcus isn't going anywhere. JC Penny in no way shape or form is better off than other large chains. They had to close its headquarters. While it could come out of it, they won't be the same company as used to be.

[KerrTown]

Originally Posted by As Above So Below...

No, that is not what Dallas' economy depends on.

Actually the DFW economy is dependent on hosting head offices for companies dependent on consumption around the U.S. I named the household brand names since everyone is familiar with that part of the economy.

But there is a significant portion of back office activity there that serves the Texas region. One example, being banking. Being one of the Federal Reserve cities attracted massive check clearing operations way back. Despite technological advances, the U.S. banking system is still regionally fragmented (severely, compared to other developed countries).

I should mention that the regional corporate credit union (the credit union's credit union) is located in Plano. (Credit unions used to stick with the regional corporate CU, until the system recently became market-based which allows credit unions to shop around for their intermediary.)

Also the Federal government has a substantial presence for the region in DFW, which attracts organizations--like corporate credit unions--to develop a close relationship with regulators.