Is DFW really worth the "new prices"...and how sustainable is all of this multi-family housing? (Houston: insurance, how much)

[lepoisson]

I can't believe people are saying that Dallas isn't that hot in the summer. In terms of heat, Dallas might have one of the worst climates in the United States. Phoenix and Las Vegas are scorching hot, but at least it's a dry heat.

This past summer was my first Texas summer and it's definitely not something I could handle again. May through early October was miserable for me. I think the biggest shocker was the evening temperature. Sure, it gets hot in other states, but it cools off when the sun sets. I remember many nights here in Texas where it was still 90+ late at night.

[NP78]

Originally Posted by lepoisson

I can't believe people are saying that Dallas isn't that hot in the summer. In terms of heat, Dallas might have one of the worst climates in the United States. Phoenix and Las Vegas are scorching hot, but at least it's a dry heat.

This past summer was my first Texas summer and it's definitely not something I could handle again. May through early October was miserable for me. I think the biggest shocker was the evening temperature. Sure, it gets hot in other states, but it cools off when the sun sets. I remember many nights here in Texas where it was still 90+ late at night.

Definitely true about the heat here. If someone doesn't like heat than Austin, Dallas, SA, Houston, etc. are not the place for them.

I don't think it is generally a big issue for most people though. Population growth in areas with hot climates (Texas, AZ, Las Vegas, Florida, Georgia, etc.) has far outpaced population growth in areas with cooler climates for quite a while within the U.S.

[Road-DFW]

This might be of interest to the discussion
DFW apartment boom hits region with all-time record high rents
[url]http://www.bizjournals.com/dallas/news/2015/07/01/dfw-apartment-boom-hits-region-with-all-time.html[/url]

Also, I would like to add that the spike in home cost in DFW is not only related to pop growth. It also is largely due to the scarcity of inventory. Ask any realtor and they will tell you, people arent selling. Lower lending guidlines and tougher appraisal standards have put a crunch on home sales. Apartment developers saw the writing on the wall. look at the linked infographic, its crazy.

[iberanon]

Originally Posted by Road-DFW

This might be of interest to the discussion
DFW apartment boom hits region with all-time record high rents
http://www.bizjournals.com/dallas/ne...-all-time.html

Also, I would like to add that the spike in home cost in DFW is not only related to pop growth. It also is largely due to the scarcity of inventory. Ask any realtor and they will tell you, people arent selling. Lower lending guidlines and tougher appraisal standards have put a crunch on home sales. Apartment developers saw the writing on the wall. look at the linked infographic, its crazy.

I've been looking at plano 400-500k houses, and the price has fallen quite a bit from last years peak. The proof will be this spring/summer.

[EDS_]

Originally Posted by iberanon

I've been looking at plano 400-500k houses, and the price has fallen quite a bit from last years peak. The proof will be this spring/summer.

You keep saying that. But I can't find much evidence to support your claim.

[hbdwihdh378y9]

Originally Posted by seerideeleven

Ha, you must have an extremely short memory. We have had quite of few summers in recent years that most sane people would consider "unpleasant". See summer 2011 for more information.

No, I don't have a short memory. That seems to be your problem. You're overemphasizing 2011-2013 at the expense of the longer-term averages.

Obviously, the fact that 2011 was way too hot (and unpleasant) is entirely consistent with what I wrote about an *average* year.

[iberanon]

Originally Posted by EDS_

You keep saying that. But I can't find much evidence to support your claim.

I have? 500k house is now listing for 400k there. Just look it up.

[TurtleCreek80]

Originally Posted by iberanon

I have? 500k house is now listing for 400k there. Just look it up.

You're using one house as a barometer to the market? That house was either grossly overpriced for the market or has some major structural or cosmetic issues. A house in my neighborhood has been for sale for almost 2 years. It started over $2M and is now in the $1.7M range. The house's value didn't fall. It was an ugly house that was so out of the "norm" for the neighborhood that no one wants it. That's not a market condition as every other house sells within a few months at the most and for close to asking price. It's a function of the architect and builder severly misjudging the market for a "unique" custom home.

Prices have NOT fallen 20% here. If they were falling people would be selling in a panic and listings would skyrocket. Also, it would be front page news. None of those things are happening.

[CREW747]

Originally Posted by lepoisson

I can't believe people are saying that Dallas isn't that hot in the summer. In terms of heat, Dallas might have one of the worst climates in the United States. Phoenix and Las Vegas are scorching hot, but at least it's a dry heat.

This past summer was my first Texas summer and it's definitely not something I could handle again. May through early October was miserable for me. I think the biggest shocker was the evening temperature. Sure, it gets hot in other states, but it cools off when the sun sets. I remember many nights here in Texas where it was still 90+ late at night.

The lack of scenery here bothers us more than the weather...We visit Tennesee yearly and have spent a lot of time in the Nashville suburbs.That is our idea of a perfect climate and great scenery.As of now,there are still many other reasons why we prefer to live here,but like I had said when I started this thread,I am starting to question the direction that this area is going in.


I really hope that the mass amount of multi-family housing going up everywhere around North Texas is sustainable long-term...

[EDS_]

Originally Posted by iberanon

I have? 500k house is now listing for 400k there. Just look it up.

Yes you have (it's really easy to look up old posts by poster here) and show me some wide ranging hard data buttressing your claim. That kind of thing is absolutely not happening in my part of town. I'll grant there was a bit of a swoon during the election but nothing like broad 20% price reductions.