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Old 12-02-2016, 07:59 AM
 
95 posts, read 163,983 times
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A real estate correction will come again... hard to say what the actual triggers will be (terrorism, recession, interest rates, over supply of wrong product, etc) or when they'll occur, but to think because we have a strong economy in DFW insulates us from corrections is absurd and foolish logic.
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Old 12-02-2016, 11:34 AM
 
Location: Shady Drifter
2,444 posts, read 2,764,129 times
Reputation: 4118
A correction to what? The current market isn't fueled by unsustainable speculation or anything similar. It's fueled by a large influx of people who need houses due to relocation for work. I don't think 10% year over year increases will keep pace, but I don't think things will suddenly die out or prices crash.
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Old 12-02-2016, 11:42 AM
 
113 posts, read 155,612 times
Reputation: 139
The high-end market is softening in some places. I don't expect huge price appreciation like we've had in recent years to continue. However, historically, it takes a recession or explosion (not a gradual increase) of interest rates to cause prices to come down.
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Old 12-02-2016, 01:48 PM
 
3,754 posts, read 4,239,359 times
Reputation: 7773
Quote:
Originally Posted by Runnn View Post
A real estate correction will come again... hard to say what the actual triggers will be (terrorism, recession, interest rates, over supply of wrong product, etc) or when they'll occur, but to think because we have a strong economy in DFW insulates us from corrections is absurd and foolish logic.
Uh, that's exactly what a strong, diversified economy does. It doesn't mean we won't have a downturn, but it certainly insulates against a free fall dive in pricing like what was seen in Miami, or Vegas, etc.

Thinking otherwise is absurd and foolish.
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Old 12-02-2016, 02:00 PM
 
Location: Shady Drifter
2,444 posts, read 2,764,129 times
Reputation: 4118
Too many people are still thinking that Dallas prices circa 2008 are the "true" prices for Dallas real estate. I agree that it's a bit nuts right now, but Dallas real estate was always (until recently) vastly underpriced compared to other top-10 metro areas in the USA. It's now basically correcting itself to a reasonable price compared to other similar metro areas.
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Old 12-02-2016, 02:38 PM
 
Location: plano
7,888 posts, read 11,408,992 times
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Jobs drive the housing market. Interest rates are a distant second. I see no reason Dallas area housing wont continue to rage as job adds continue here... remember.. real estate is local and job market locally is going great.
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Old 12-02-2016, 03:44 PM
 
537 posts, read 597,951 times
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Quote:
Originally Posted by Johnhw2 View Post
Jobs drive the housing market. Interest rates are a distant second. I see no reason Dallas area housing wont continue to rage as job adds continue here... remember.. real estate is local and job market locally is going great.
This. The worst that will happen to DFW real estate is that the 10% annual increase in prices will drop to 3 or 4%. Unless the entire economy just crashes, in which case your real estate values will be the least of your worries, and metro areas besides DFW would probably have an even worse time of it.
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Old 12-04-2016, 12:01 AM
 
18,561 posts, read 7,370,877 times
Reputation: 11375
Quote:
Originally Posted by Runnn View Post
A real estate correction will come again... hard to say what the actual triggers will be (terrorism, recession, interest rates, over supply of wrong product, etc) or when they'll occur, but to think because we have a strong economy in DFW insulates us from corrections is absurd and foolish logic.
Posts like this remind us of the naïveté of the "efficient-market hypothesis". There is no mistake to be corrected.
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Old 12-04-2016, 04:54 AM
 
1,158 posts, read 960,857 times
Reputation: 3279
Quote:
Originally Posted by LeagleEagleDFW View Post
Too many people are still thinking that Dallas prices circa 2008 are the "true" prices for Dallas real estate. I agree that it's a bit nuts right now, but Dallas real estate was always (until recently) vastly underpriced compared to other top-10 metro areas in the USA. It's now basically correcting itself to a reasonable price compared to other similar metro areas.
This. Prices are never going back to 2008 levels. Prices are only going up. DFW is still a bargain for those coming from higher priced metros or that have good jobs.

The Census Bureau estimates that two thirds of Americans will live in the West and SunBelt states by 2030.

Texas is pro-business and unless something catastrophic happens to our economy (not likely) the influx of people moving here and demand for housing is not going to stop.
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Old 12-04-2016, 05:18 AM
 
Location: DFW
40,952 posts, read 49,183,047 times
Reputation: 55008
Quote:
Originally Posted by Angie682 View Post
This. Prices are never going back to 2008 levels. Prices are only going up. DFW is still a bargain for those coming from higher priced metros or that have good jobs.
I worked with a Buyer Saturday moving from the Chicago area.

They are very excited about our warm winters and how nice a Brick home they can get for $350k.
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