Materialism in HP vs Frisco (Dallas, Arlington: homes, transfer, neighborhood)

[Big G]

Originally Posted by jtrichel

But as MSM said, the starter homes in that area are $750k+, ...why would someone want to stuff into a small house on a small lot on a small street and live at the bottom rung on the ladder there (?)

That was exactly my analysis. When we first came to Dallas, our housing budget was such that the Park Cities weren't even a consideration. Fast forward several years, to when we were looking to upgrade from our former Plano house, and our housing budget WAS Park Cities-sized. We could 1) move up to a much nicer house in Plano, or 2) move down to a smaller, not as nice house in the Park Cities.

I didn't see the intangibles of UP/HP coming close to outweighing the overall effect of paying more to get less. If that's "not knowing how to spend money well", call me stupid.

1) I get to live in a nicer, larger house.
2) The city services of Plano run circles around those of UP/HP.
3) My school system sends its top graduates to Ivy League schools year after year. The Ivy League isn't just a possibility, but a near-certainty for top PISD grads. Is my kid going to be a top graduate? We'll see - I'm not holding my breath. The point is, I'm not cutting my kid off from any options by sending him to PISD. HPISD might be somewhat better, but it's hardly 3X better.

Originally Posted by TurtleCreek80

... I would still feel & know I belonged there. I know the teachers, shop & restaurant owners, neighbors, etc, and they know my parents & grandparents so to me it feels like "home"- ...

Well, that's great for you. To me, a transplanted Yankee, that sounds like a place where *I* would not EVER belong - because I'm not "old money" and I don't have the connections from living here for generations.

[1tc]

I think maybe if you think you will be concerned about what 'rung' you're on & keeping up with the Jones', that's a normal concern for most people; you might be better off going into a less expensive area & living below your means, so you can not worry about 'keeping up', as you'll be in the middle or 'top half' somewhere else.

I've met some of the most incredibly down to earth wonderful people, & some many couldn't relate to. some trying to keep up with Jones'. some who are trying to be Jones' & I don't care to know (how stressful would that be!). Some who are the Jones (without realizing it) & aren't trying to keep up with anyone; are just secure & do what they want & other people seem to want to follow that; perhaps they want their 'security' & don't realize that trying to keep up is going to give them the opposite. someone will always have more; you have to be greatful for where you are.... sorry; sounds like I'm lecturing! But, many people do feel like they have to keep up & 'inadequate' when on the lowest 'rung' in any area; so maybe best to live in an area where you're in the 'middle' of whatever it is, so you wont have that added stress...

[1tc]

[quote=TurtleCreek80;13746770]your assertion that $1M is the "average" Park Cities annual income is entirely false. The average is in the mid $100k's for UP and $200k's for HP.


that's encouraging to know... but unfortunately need a much healthier down payment to make the monthly payments manageable. I would have helped to buy before the boom a little house to trade in & have that equity, but hopefully in the future... I just love the area. I find it relaxing & beautiful & have met wonderful people from the area (some not so wonderful, but you get both in any area). I had also assumed the people made much more annually, but couldn't figure out how, as there aren't *that* many such high salaries in Dallas (or at least I haven't been finding & earning them!)

[longhornswin]

I work in HP and live in Frisco, so I get a lot of exposure to both worlds. Here are my thoughts:

- My wife's cousins all grew up in HP, are in their 30s with kids, and all live in...you guessed it...Highland Park. They have $800K+ homes and barely have 3 bedrooms. One of them had their new baby's crib in their closet because they were out of room. To top it off, they both work (I bet their total income is about $150-225K/year), and they can barely afford the little house they live in.

Sounds like materialism to me. But they just "have" to live in HP...because they grew up in the HP bubble and think the world literally ends at 635.

- On the other hand we live out in the 'burbs because we live within our means. And we don't have a trust fund for us to use on a $100K down payment.

- As far as "investment" in HP/UP, those houses had a good run, but it's all come crashing down just like the rest of the housing market. There are tons of houses just sitting on the market and they can't get their inflated asking price. Bigger bet, bigger risk.

- I get why people like HP/UP. Trees, white people, good schools, etc. But the 'burbs have their place too and I know a lot more modest people in Frisco than in HP/UP.

[tyanger]

Originally Posted by longhornswin

...
- My wife's cousins all grew up in HP, are in their 30s with kids, and all live in...you guessed it...Highland Park. They have $800K+ homes and barely have 3 bedrooms. One of them had their new baby's crib in their closet because they were out of room. To top it off, they both work (I bet their total income is about $150-225K/year), and they can barely afford the little house they live in...

This description reminds me of my brother in law. It actually fits his situation 2 years ago almost exactly except for the fact that he had a high rise condo in upper west side Manhattan. I couldn't really understand the appeal, but it made a lot more sense than your in laws' arrangements. Anyway, they ended up moving to Austin last year so they eventually saw the light.

Whatever floats your boat, I guess, although I sure wish these topics would just stay dead

[Haute Mom]

Originally Posted by Grainraiser

Most folks who actually have wealth see little reason to flaunt it (HP/UP). Folks who are trying to get it, recently got it or want you to think they have it flaunt it (Frisco). This does not apply to everyone but pretty close on average. People with wealth are pretty competitive regardless were they live. It's part of the reason they have wealth.

absolutely agree!

[skids929]

Originally Posted by TurtleCreek80

There have been many heated debates on here about the materialistic pressures of the Park Cities vs other affluent suburbs in the area and I have seen many relocatees pick Southlake/ Frisco/ Plano over the Park Cities because of their worries about fitting in / keeping up. I have always argued that materialism is far more rampant in other areas, but now I have a relevant concrete example to share (vs my HPHS experiences in the 1990's):

1. I was out walking last night and at the park at the corner of Beverly & Lakeside in HP (across from the Dallas Country Club and Ed Cox's $30M estate) were a group of high school boys hanging out. All their cars were parked along Lakeside and they were pretty much what I remember: 2 1980's Diesel Mercedes, a 1990s 3-series, a beat-up pick up truck, an old blue van, an early 1990's Honda. Only 2 cars were "new" - a shiny new Yukon and a 2000's pickup truck. The rest were almost as old or older than the teens who were driving them. These were all football players (judging by the stickers on their cars). Hardly the picture people try to paint on here of "everyone" getting a brand new luxury car and jetting off to Aspen on the weekends.

2. Just found out my coworker who lives in Frisco is getting his 15-year-old son a brand new Hummer for his upcoming 16th bday because "all his friends" drive one.

Just sayin'.

And your point is?

[Lakewooder]

The world doesn't end at 635. It's more like Northwest Highway or Mockingbird.

[TXNGL]

Originally Posted by Lakewooder

The world doesn't end at 635. It's more like Northwest Highway or Mockingbird.

Hey now!

[Lakewooder]

I knew that would stir a few responses! I guess I am getting old but over in my area there wasn't much north of either when I was a kid. A little different up Hillcrest and Preston. I just learned that Abrams and Park Lane was once called "Chigger Hollow".