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Old 07-27-2007, 02:49 PM
 
16,087 posts, read 41,162,235 times
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The latest Federal Reserve Beige Book report:
Dallas Beige Book 7-25-2007 - Economic Research Publications - FRB Dallas
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Old 07-27-2007, 03:51 PM
 
Location: Topeka, KS
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Depending on the owner, that's not necessarily surprising. An apartment has a minimum occupancy rate that's calculated into the "business model". The typical single family home owner / landlord, I would expect, only owns a few homes and therefore need a nearly 100% occupancy rate to stay afloat. In a soft market, I can imagine many homeowners renting cheap to keep the units occupied.
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Old 07-27-2007, 03:56 PM
 
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I imagine that in "some" Dallas and Fort Worth areas, houses have always rented for less than apartments--there are no specifics or "comps" in the information in the article--I am sure there are some houses in FTW that rent for less than some apartments--just as in Irving--compare houses S of 183 with apartments in Las Colinas--worlds and paychecks apart...

the part that I thought was significant was the mention that even high priced homes have had slower starts/contracts--don't know what "higher" counts out to--but remember also in Dallas that there are many 'tract" builders who build a high-end home---
I think many truly custom builders who build significantly fewer homes are still doing their own thing and getting a higher price for what they finish out most of the time...
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Old 07-27-2007, 05:16 PM
 
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Dallas Morning News column today said there were 300 empty rebuilds/McMansions for sale in intown Dallas including 100 in East Dallas/Lakewood and 40 in University Park. New houses sitting empty. It also said there were 589 under construction.

Appetite for McMansions is on the wane | Dallas Morning News | News for Dallas, Texas | Business Columnists: Steve Brown (http://www.dallasnews.com/sharedcontent/dws/bus/columnists/sbrown/stories/DN-recol_27bus.ART.State.Edition1.35a9857.html - broken link)
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Old 07-27-2007, 06:55 PM
 
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This is a good thing.
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Old 07-28-2007, 06:02 AM
 
Location: Lake Highlands (Dallas)
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I have to agree with you Lakewooder. McMansions (when they tear down an existing home) do remove the original charm of a neighborhood. I don't mind the architecture of some of them - but they do look out of place in a well established neighborhood that has a certain charm.
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Old 07-28-2007, 08:02 AM
 
37,315 posts, read 59,869,570 times
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some of those homes are really nice historic look recreations with attention to detail ---they are not the tacky build-it-as-big-as-you-can-on-the-lot ones that usually deserve the term McMansion---
there are some that I really wish I lived in Dallas that I could buy...

but you are right--it is a good thing that the market is slowing down...maybe the cost will drop too although I doubt that...writer acknowledged that most people who have bought a lot will continue the build...
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