Is high housing price and inflation a big deterrent for relocation now? (Dallas: transplants, to rent)

[fuhongl]

I guess many people hang around here are transplants.
I used to be a constant relocator, did several (over 5 ) relocation in the decade prior to Covid. And last stop brought me to DFW.
In midst of Covid, I bought a house in 2020 and have been enjoying the quiet and peace and rural living.
I have been thinking about if I would do relocation again if there would be more opportunities after Covid.

I feel the world is not the same any more since 2020. For relocators, if I move to a new job elsewhere, then I probably have to rent first, the rent is skyrocket. Probably can't afford the house now wherever I go.
Not to mention the risk of getting covid during the travel and relocation process.
Finally, the relocation cost is not tax deductible anymore, just bring that to the calculation.

All in all, I just would like to check if it was me getting lazy and old now. Or do other people feel the same way?

[DFWGuy422]

Originally Posted by fuhongl

I guess many people hang around here are transplants.
I used to be a constant relocator, did several (over 5 ) relocation in the decade prior to Covid. And last stop brought me to DFW.
In midst of Covid, I bought a house in 2020 and have been enjoying the quiet and peace and rural living.
I have been thinking about if I would do relocation again if there would be more opportunities after Covid.

I feel the world is not the same any more since 2020. For relocators, if I move to a new job elsewhere, then I probably have to rent first, the rent is skyrocket. Probably can't afford the house now wherever I go.
Not to mention the risk of getting covid during the travel and relocation process.
Finally, the relocation cost is not tax deductible anymore, just bring that to the calculation.

All in all, I just would like to check if it was me getting lazy and old now. Or do other people feel the same way?

There are two issues at play here. One is that relocating has become more expensive per linked article (granted, this was published about half a year ago, but I would imagine that things have only gotten worse).

Two, housing prices are shooting up, particularly in DFW. Tons of people are moving here and the supply of houses hasn’t caught up with the demand, particularly as the Fed is signaling an increase in interest rates.

https://www.forbes.com/advisor/home-...increase-2021/

[mikestrong]

On the new home side, I am seeing the biggest wave of people(75%) buying/looking are people that are now working at home and not having to drive into Dallas/Irving but once a week. I didnt see that one coming.

[Leonard123]

Obviously not, or people would not be falling over themselves and to plop down $700K+ for average houses in average neighborhoods. The lack of existing homes on the market is an indication that these people are not locals.

Regardless of origin and destination and regardless of reason, too many people are trying to move at once, and their desperation seems to know no bounds.

It's hard to know exactly what's going on right now as I haven't seen any studies or polling to confirm the motivations of people moving the last couple of years and this year in particular. All I know is that participating in the nuttiness in the current market have lost their collective marbles.

[crazyforger]

The curtain is going to fall when companies call employees back into office

[san11]

Originally Posted by crazyforger

The curtain is going to fall when companies call employees back into office

Yes it could start probably around March / April.

[75214Dad]

Originally Posted by crazyforger

The curtain is going to fall when companies call employees back into office

Lol- any company that does that will have a lot of roles to fill! None of the well paying, “knowledge sector” jobs that have gone fully remote are ever going back to the office full time. Even if they want to, they won’t be able to sustain talent.

[TurtleCreek80]

Originally Posted by crazyforger

The curtain is going to fall when companies call employees back into office

Employees have the upper hand at most companies now, which means they can’t force workers back without the risk of losing a not-insignificant portion of their workforce. I’m sure some companies will draw a hard line and be able to do it but the majority of companies do not have the upper hand.

My spouse’s company has NEVER allowed remote work and after pushing through RTW date back several times they now acknowledge the majority of positions are remote or hybrid, indefinitely.

[mikestrong]

Originally Posted by Leonard123

Obviously not, or people would not be falling over themselves and to plop down $700K+ for average houses in average neighborhoods. The lack of existing homes on the market is an indication that these people are not locals.

Regardless of origin and destination and regardless of reason, too many people are trying to move at once, and their desperation seems to know no bounds.

It's hard to know exactly what's going on right now as I haven't seen any studies or polling to confirm the motivations of people moving the last couple of years and this year in particular. All I know is that participating in the nuttiness in the current market have lost their collective marbles.

I sell new homes, and in my community im seeing 75% locals that work in Dallas/Irving buying. I know what Im seeing. We have a 2000 person wait list. They have been renting for years. Relos are up but thats not what is the issue in my community. Just FYI.

[mikestrong]

Originally Posted by crazyforger

The curtain is going to fall when companies call employees back into office

Exactly Thats what I bring up to the customers Im seeing. They just dont believe me.