Is DFW becoming less affordable? (Dallas: loans, home, buy)

[DTXman34]

Originally Posted by LeagleEagleDFW

I think the biggest issue when I compare Uptown to real cities is that Uptown is a temporary waypoint for young singles in Dallas before they get married have kids, and move on. It's not a true, thriving place to live in the sense that that type of area is for other cities.

There's been an influx of empty nesters to portions of Uptown and Downtown. Some young families have moved in as well. Uptown is growing to the point that certain sections of it are forming their own identities -- State Thomas, West Village, Katy Trail/Turtle Creek, Harwood, Crescent/Lower McKinney, etc. Downtown is similar -- Main Street, Arts District, West End, Farmers Market, etc. You can also throw in Victory Park.

In the case of Downtown, they really need to market the hotspots better. I think many people that visit Downtown end up in the "vertical office park" sections with hardly any life after 5.

[DTXman34]

Originally Posted by FarAwayNick

I think for Texas natives, Downtown and Uptown are "city experiences" because that's all that's really around. But for anyone who's lived/spent extended periods of time in real major cities, you quickly realize they're simply not in the same realm. Saying Uptown is a true city experience is like saying Firewheel outdoor mall is a true city experience. It's just not.

Uptown is much closer to an actual urban neighborhood than it is to Firewheel Outdoor Mall. You've got to be kidding. It's not like West Village is built in the middle of nothing. Now I know you're trolling! A better comparison to Firewheel would be Shops at Legacy, Southlake Town Center, Addison Circle, etc. I've lived in the Northeast btw. This really discredits most of your post. I can acknowledge that Uptown isn't fully there as far as an urban living experience, but to compare it to an outdoor mall alongside a highway and connected to nothing is absolutely ridiculous.

[L.A.2Orlando2Dallas]

Yes it's becoming unaffordable

The good news is this summer was probably the peak ,and with 10% of all apartments in the country being built in Dallas (50,000 units) rents will likely have to come down.Good time to sell high if you bought low in Dallas .

[HP48G]

Originally Posted by DTXman34

There's been an influx of empty nesters to portions of Uptown and Downtown. Some young families have moved in as well. Uptown is growing to the point that certain sections of it are forming their own identities -- State Thomas, West Village, Katy Trail/Turtle Creek, Harwood, Crescent/Lower McKinney, etc. Downtown is similar -- Main Street, Arts District, West End, Farmers Market, etc. You can also throw in Victory Park.

In the case of Downtown, they really need to market the hotspots better. I think many people that visit Downtown end up in the "vertical office park" sections with hardly any life after 5.

The rental/condo market in these trendy expensive locations tends to offer 1 bedroom units. By design it caters to singles or childless couples with high incomes. There is some discussion about what will happen to these markets once the glut of millenials age and start their own transition to suburbia to raise children.

[accent2010]

Originally Posted by lepoisson

Is the DFW area becoming less affordable?

I'm wanting to buy a house in the next few years and I've seen homes which sold for $150K-$200K are now selling for almost double that price. It's really hard to find a decent home in my price range in Arlington, Mansfield, and HEB areas.

My apartment rent has gone from $750 to $900 in just a few years. Next year I'd imagine I'll be paying around $1000 for a 1br.

This is all in Arlington, which is one of the not-so-desirable parts of the metro.

I guess it seems like the area is no longer affordable to my budget. I wonder if this is a rent and housing bubble or if prices will keep hiking like this for a long time?

It's coming down...
Moderator cut: link removed, linking to competitor sites is not allowed

[Aceraceae]

Originally Posted by accent2010

It's coming down...
Moderator cut: link removed, linking to competitor sites is not allowed

Look at the two and five year trends.

[ChristieP]

Originally Posted by HP48G

The rental/condo market in these trendy expensive locations tends to offer 1 bedroom units. By design it caters to singles or childless couples with high incomes. There is some discussion about what will happen to these markets once the glut of millenials age and start their own transition to suburbia to raise children.

Very good point!

[TurtleCreek80]

Originally Posted by HP48G

The rental/condo market in these trendy expensive locations tends to offer 1 bedroom units. By design it caters to singles or childless couples with high incomes. There is some discussion about what will happen to these markets once the glut of millenials age and start their own transition to suburbia to raise children.

Are millenials going to be the last generation on earth? What makes you think GenZ won't be into Uptown once they get out of college?

I'm GenX and I definitely would have lived in Uptown if it existed when I graduated from college (had I also been living in Dallas).

[RJ312]

Originally Posted by TurtleCreek80

Are millenials going to be the last generation on earth? What makes you think GenZ won't be into Uptown once they get out of college?

I'm GenX and I definitely would have lived in Uptown if it existed when I graduated from college (had I also been living in Dallas).

I agree. There's no reason to think Gen Z won't be into Uptown. Depending on what definition of Gen Z is, the earliest members are reaching adulthood now.

[JKAddict]

Originally Posted by RJ312

I agree. There's no reason to think Gen Z won't be into Uptown. Depending on what definition of Gen Z is, the earliest members are reaching adulthood now.

If I'm included in Gen Z, born in 1995, then I would definitely say people in my generation desire to live in urban neighborhoods such as Uptown. Many of my friends already live there in the surrounding districts.