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Old 02-01-2022, 04:27 PM
 
1,340 posts, read 1,038,769 times
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Quote:
Originally Posted by TurtleCreek80 View Post
There are areas where many if not close to most households are making $150k+. The median HHI in Prosper is $147k. The median HHI in Frisco is $127k. The median HHI in Celina is $124k. In Collin County, the mean HHI of the top 20% of homes is $260k - that’s about 80,000 households. I’m sure the stats are similar at the top of Denton County, too.

There really ARE plenty of people who can afford to buy a $500k+ new home without it being “collective lunacy.”
I made clear I am talking about individuals, not couples. $150K is not a typical salary, and the CURRENT data I see does bear that out. If you have data to the contrary, please show me.
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Old 02-01-2022, 04:32 PM
 
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Originally Posted by LocalPlanner View Post
Exactly. While yes there are emigrating Californians who are affording these prices because of the equity from their previous home, there's also lots of high-paying jobs being added in DFW. Especially in Collin County. A white-collar married or partnered couple, both working, can hit $250K HH income easily.
I wouldn't say "easily." It depends on the level of experience, company, role, whether it's a management position, etc. That's not a mid-level salary for the area and definitely not a significant portion of the population.
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Old 02-01-2022, 04:38 PM
 
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Originally Posted by Leonard123 View Post
I wouldn't say "easily." It depends on the level of experience, company, role, whether it's a management position, etc. That's not a mid-level salary for the area and definitely not a significant portion of the population.
Guy- the 10% cut off for single filers in DFW was $142,000 in 2019. What don’t you understand?
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Old 02-01-2022, 04:43 PM
 
13,194 posts, read 28,122,702 times
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Quote:
Originally Posted by Leonard123 View Post
I made clear I am talking about individuals, not couples. $150K is not a typical salary, and the CURRENT data I see does bear that out. If you have data to the contrary, please show me.
But households buy homes, not individuals- especially in suburbia. Most families in the year 2022 have 2 working parents, maybe not both working full time, but two individuals financially contributing to the household.


I would also argue that $150k *is* a typical salary for white collar professionals with 10-15 years’ experience in a Senior Manager / Director level position. When Toyota relocated to Plano, the average job brought here was like $110k salary. That’s average. There are also tons of small business owners and other self-employed individuals in Collin Co making big bucks outside the corporate ladder.

Again, most people don’t make $150k but clearly enough do that there are deep waitlists for new home communities.
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Old 02-01-2022, 04:46 PM
 
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Originally Posted by 75214Dad View Post
Guy- the 10% cut off for single filers in DFW was $142,000 in 2019. What don’t you understand?
He clearly cannot comprehend that just because it’s not his reality, it is the reality for many other people. Same thing with his threads about McKinney home prices… and because he cannot wrap his brain around these facts, it must be a scheme / scam / lie / whatever.
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Old 02-01-2022, 05:12 PM
 
1,340 posts, read 1,038,769 times
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Originally Posted by TurtleCreek80 View Post
He clearly cannot comprehend that just because it’s not his reality, it is the reality for many other people. Same thing with his threads about McKinney home prices… and because he cannot wrap his brain around these facts, it must be a scheme / scam / lie / whatever.
No, I'm looking at the data and statistics from various sources, not anecdotes.

I actually do concur with the post that $150K is a senior level management role, but I would say $130 is probably also going to be a senior level role. Again though, it depends on the exact role and experience. A large corporation like Toyota probably does pay on the high side.
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Old 02-01-2022, 05:31 PM
 
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Originally Posted by Leonard123 View Post
No, I'm looking at the data and statistics from various sources, not anecdotes.

I actually do concur with the post that $150K is a senior level management role, but I would say $130 is probably also going to be a senior level role. Again though, it depends on the exact role and experience. A large corporation like Toyota probably does pay on the high side.
$130K is most definitely NOT a senior level paygrade anymore. That's almost entry-level software dev pay. Companies like Toyota actually do not pay on the high side, as their benefits package kind of adds to the "total comp". Senior level at a company like Chase or Toyota is likely much closer to the mid 3's when factoring in bonuses. Heck, even mid-level wages at a place like Liberty Mutual are about $110K including bonuses.

Realize as well that you're talking about a very small subset of a population of nearly 7 million people that want to live in a new build in Frisco and parts hell and gone north... there's absolute empirical evidence to support that there are, indeed, plenty of people that can - and do - buy these homes.

If there were no available buyers as you state, there wouldn't be wait lists. If there weren't an increase in demand that exceeded supply, there would be no price increases. The "facts" are staring you directly in the face.
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Old 02-01-2022, 05:36 PM
 
13,194 posts, read 28,122,702 times
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Originally Posted by Leonard123 View Post
No, I'm looking at the data and statistics from various sources, not anecdotes.

I actually do concur with the post that $150K is a senior level management role, but I would say $130 is probably also going to be a senior level role. Again though, it depends on the exact role and experience. A large corporation like Toyota probably does pay on the high side.
Well, the IRS data shows that as of 2019, somewhere around 150,000 households in Denton & Collin Counties made over $150k. We can reasonably deduct that the number of households has risen since then. That is a huge number of households that can afford a $500k+ new build house at the 2-3% interest rates seen in recent years.

There is a reason builders are picking up every last parcel of land in Denton / Collin County and building $500k-$1M+ homes….and there’s a reason why you can find tons of available new construction in the low $200k’s the south of Dallas in Ellis County (same distance from downtown as Collin Co). The high paying jobs / businesses are north, not south.
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Old 02-01-2022, 07:26 PM
 
349 posts, read 376,155 times
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Quote:
Originally Posted by Lz_2022 View Post
$130K is most definitely NOT a senior level paygrade anymore. That's almost entry-level software dev pay. Companies like Toyota actually do not pay on the high side, as their benefits package kind of adds to the "total comp". Senior level at a company like Chase or Toyota is likely much closer to the mid 3's when factoring in bonuses. Heck, even mid-level wages at a place like Liberty Mutual are about $110K including bonuses.

Realize as well that you're talking about a very small subset of a population of nearly 7 million people that want to live in a new build in Frisco and parts hell and gone north... there's absolute empirical evidence to support that there are, indeed, plenty of people that can - and do - buy these homes.

If there were no available buyers as you state, there wouldn't be wait lists. If there weren't an increase in demand that exceeded supply, there would be no price increases. The "facts" are staring you directly in the face.
Software developers make 130k entry level in DFW?
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Old 02-01-2022, 07:35 PM
 
304 posts, read 181,060 times
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Originally Posted by djslakor View Post
Software developers make 130k entry level in DFW?
I did say “almost”. One of the college kids that worked for me finally got his degree and an offer for 115+ bonus, he’s got some intern experience but I’m fairly sure it would be considered a junior role. Bottom line is that 130 isn’t some astronomical number anymore.
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