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Old 01-24-2019, 09:22 PM
 
34 posts, read 24,800 times
Reputation: 70

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I still can’t believe how crazy expensive houses are right now...
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Old 01-25-2019, 07:20 AM
 
147 posts, read 93,312 times
Reputation: 293
I always get a chuckle out of the weekly CD post..."moving to Texas from "X City", looking for a 4 bedroom house on a couple acres with good schools within 30 minutes from downtown Fort Worth....my budget is $150,000"

Facepalm.....the days of affordable houses in the major metro areas in Texas are long gone. Too many people moving here and not nearly enough development to keep pace.
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Old 01-25-2019, 08:20 AM
 
Location: Bedford
609 posts, read 841,359 times
Reputation: 750
The market has cooled off a little since last summer, but, yeah, prices are up there. If I put my house on the market today, I could get close to double what I paid for it 16 years ago. And that's just minor updates. I could get a lot more with more updating and upgrades.
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Old 01-25-2019, 11:30 AM
 
14,802 posts, read 489,638 times
Reputation: 23306
You forgot safe, good schools, close to shopping and public transportation.
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Old 01-25-2019, 09:11 PM
 
34 posts, read 24,800 times
Reputation: 70
Yeah it sucks when your a native Texan and are getting priced out. Californians move here and don’t bat an eye at paying these prices. The builders take advantage of the situation.
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Old 01-25-2019, 11:23 PM
 
Location: New Braunfels, TX
6,512 posts, read 9,520,841 times
Reputation: 6815
So many blaming folks moving in from elsewhere, but I'm not sure that's the real issue. We got used to cheap housing, ignoring the inflationary pressures pushing up the cost of the goods necessary to build the homes - especially labor. When we built our place 15 years ago, decent home builder labor was running $10-12/hr, and general labor $8-10/hr. Today, burger-flippers are starting at $9-10/hr, and those same building trades are $15-20.

I was buying loaded F150's at about $20-25k....that same truck today is $40k. A 3/4 ton truck today moderately equipped is what - $50k? I just got through looking at 3/4-ton crew cabs....new was going to be $60k! I settled on a 1-ton dually crew cab & chassis for $18k - the utility bed and lift gate added another $12k to the bottom line - and I felt lucky to get it at that low of a cost! Needless to say, the days of $60 & $70 service call rates are out the window!!

When I bought my first house in the late 70's, it was a 3-2-1 in a "rougher" part of town, and my dad flipped when he found out I paid $32k for it. The next house was a 3-2-2 in a MUCH nicer part of town.....$70k (1983). 1992, $75k, a bit smaller home, but a yet-nicer area. 1998, $100k, about the same type of neighborhood, but with a pool in the yard. 2003.....$180k - very nice area, larger home (4-2-3 on a half-acre). The current comparables for this house are running $285k! Yet out-of-state visitors come in and are amazed at how "cheap" our homes STILL are in comparison to their markets.

I'm a number-cruncher by nature, and I did a full comparison a few years ago. My numbers showed me that overall, the cost of a home when compared to our income hadn't really gone up that much. It's just that most folks tend to buy a home, then sit back and not pay a whole lot of attention to inflationary factors that tend to push replacement costs higher until they're back into the market again - and then it's sticker shock time. The biggest thing I seem to see is that there's so many other things we've come to accept as "necessary" in our lives (cell phones - $150-225/mo), cable ($175-230/mo), etc. - those drain a LOT of what would otherwise be disposable income in a hurry, yet we seldom give it a second thought.

A quick "snap-shot" - in 1972, I was making $5.25/hr and paying about $0.50/gallon for gas. Today, I'm semi-retired w/an income that comes out to about $40/hr, and paying $1.87/gallon for gas. So, my REAL necessities cost me less as a percentage of my income than they did 46 years ago. The old house was $32k - today, that same house is valued at $85k. Again, as a percentage of income - less today than it was then. It's just that we've come to want more than what we once had.
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Old 01-26-2019, 02:43 PM
 
34 posts, read 24,800 times
Reputation: 70
Where is this 85,000 home? Lol i have not seen any house that low in Dfw and if it is it’s in the worst of the worst areas. I do agree people are wanting more and more but just looking at 2013 to now prices have doubled. I guess everything has changed now. It’s pay up or shut up bc everyone is agreeing being in debt and paying a quarter million plus on a home is normal. It’s not normal in my book and I do not want to be house broke and never have money to live life and retire with zero money bc I wanted to keep up with Joneses. You know the people who really don’t have money that are creating this whole illusion. A quarter of a million people!

Now minimum 300,000 for a new home. This is insane! If you can afford that then more power to you but come on this is not normal for first time home buyers. You can say well then don’t get a new home then. My sister got a brand new nice home in McKinney for 175,000 in 2013 and now the rules of the game are different. Not fair...lol guess I’ll keep saving
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Old 01-26-2019, 05:39 PM
 
Location: New Braunfels, TX
6,512 posts, read 9,520,841 times
Reputation: 6815
Quote:
Originally Posted by Bullandram1 View Post
Where is this 85,000 home? Lol i have not seen any house that low in Dfw and if it is it’s in the worst of the worst areas.
Go to Realtor.com and look on Cedarwood Court in San Antonio.
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Old 01-28-2019, 05:54 PM
 
Location: Arlington
179 posts, read 87,265 times
Reputation: 308
Quote:
Originally Posted by Bullandram1 View Post
Yeah it sucks when your a native Texan and are getting priced out. Californians move here and don’t bat an eye at paying these prices. The builders take advantage of the situation.
They sell their dinky California house at (relative to Texas) an incredible price, and have money to burn. Then they move here and overbid. We ran across this overbidding when we were in the house buying process in 2016. The realtor was the one who informed us of the back story I've just related to you. Consequently, the prices go up because builders, realtors and such know there are people moving here who can pay those prices.
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Old 02-04-2019, 10:32 AM
 
Location: DFW area
1,195 posts, read 3,261,133 times
Reputation: 412
Prices have leveled out a little bit since last year.
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