El Paso in top list of 5 strongest Housing Markets in America (Beaumont: for sale, real estate market)

[mistabinks]

It really does seem that $150K is the new "100K" as far as what the average home is around here. I don't think that is out of reach for the average El Paso family.

Sightly off topic, I just saw all the new construction NORTH of Montana - WOW! I never thought we would expand in that direction.

[HookTheBrotherUp]

Originally Posted by DesertDog

This is a question. Is it possible the new administration will cut funding for the Fort Bliss expansion and all the new homes the developers have been cranking out will sit empty? A lot of these homes are above 150K which is sorta out of reach for a lot of El Pasoans. The downturn in the housing market nationally then with a downturn in demand for housing in El Paso if budget cuts were made could really devastate our economy at a time when we really can't afford to take such a hit. Is this a possibility?

Well, when the future administration is telling the world it will break with the current administration policy, and is going to light a bonfire and hold hands with Hamas and sing Cumbaya, that should tell you something. Who needs a military when you bow to the enemy? Also, the 'Don't Ask, Don't Tell' policy will come back which may have an effect on moral, and troop decline.

Anyway, I could not resist the opportunity... but to answer your question, I think it is safe to say that yes, if there are military cuts, the need for housing will respond in kind.

[DesertDog]

mistabinks
150K housing means 1400-1500 month with most jobs in El Paso paying 9-12 dollars an hour tells me most people here would really be stretching to make ends meet. It seems like yesterday that big homes were 90-100K.
Hook
I think it's time for that home on the beach in Mexico. Live simple and enjoy life .

[HookTheBrotherUp]

Originally Posted by DesertDog

mistabinks
150K housing means 1400-1500 month with most jobs in El Paso paying 9-12 dollars an hour tells me most people here would really be stretching to make ends meet. It seems like yesterday that big homes were 90-100K.
Hook
I think it's time for that home on the beach in Mexico. Live simple and enjoy life .

HA! It is looking better every month. In March I am going to see some properties in the Nayarit/Nuevo Vallarta area, then I will be flying to Mexico City in April to meet with an attorney friend of mine, and we will drive to Acapulco to see some properties there.

[DesertDog]

Once you buy your home on the beach if you need a caretaker to watch over things while you're gone keep me in mind. I work real cheap.

[mistabinks]

Originally Posted by DesertDog

mistabinks
150K housing means 1400-1500 month with most jobs in El Paso paying 9-12 dollars an hour tells me most people here would really be stretching to make ends meet. It seems like yesterday that big homes were 90-100K.

My buddy and I recently had two market studies done (with a third currently underway). I am investing in his business. The average income in El Paso, when all was said and done, and according to these two market studies, was $33,715. That works out to be around $14 to $15 an hour. Not Donald Trump money but not the slums either. Also, multiply that times two for two income families. A $1500 mortgage does not seem so bad.

Forget statistics though. In this forum, any report that makes El Paso look bad is treated like Gospel. In this forum, any report that makes El Paso look strong is scoffed at and dismissed. We here a lot of "El Paso is a Chicos Tacos kind of town." Forget that there are more Applebees in El Paso than Chico Tacos - LOL!

Anyway, like I said forget the stats. Just physically look at El Paso. Look at the upper valley. Look at North Hills. Look at the Tierras. These are not small isolated neighborhoods of high end homes. You can't look at the miles and miles of homes from the Cielo Vista area all the way to Horizon and tell me there is not decent money in El Paso. Those aren't $65K shacks. Look at the turnaround the NE has seen.

[DesertDog]

mistabinks
I asked a similar question a while back and was told in jest I think that people who lived in these nice homes had "extra" income or were business owners. I agree with what you've said mostly because I live in the Tierras on what is considered middle income but it can get tight. By the way what are all these 15 dph jobs? Most jobs here seem to me to be in the service industries which don't traditionally pay very well. I've never done studies as you have and am retired so I probably don't know what I'm talking about as usual so thanks for setting the record straight.
Dog

[mistabinks]

LOL, I get the joke about "extra" income but I have been a long time advocate of having something on the side. I don't see how families survive in any city w/out a supplemental income. My full time job pays the bills. My small business income allows me to actually have fun and go out.

[DesertDog]

That's what I need is a small business or supplemental income of some kind so I can get back to having fun. I miss my working income which allowed me to buy the big boy toys I used to enjoy. But for now it's slave away as Mr. Mom.

[TexasTiger14]

I wouldn't get too caught up on worrying about the new administration trimming the growth at Fort Bliss. Most of the soldiers headed to El Paso are coming from units overseas or at smaller bases here in the states. In fact the main issue driving BRAC is cost savings. If anything, I would venture to say the new administration may bulk up BRAC programs to try and consolidate more soliders, sailors, and airmen at a few larger posts. Fort Bliss is already one of those "larger posts" so I don't see the growth slowing down at all.

Some of the smaller air bases in New Mexico and West Texas may get the axe if there is another round of base closures however, but that won't directly affect El Paso by any means....