Houston one of the worst for affordability for first time home buyers (2014, apartments)

[Schumacher713]

No surprise at all. I bet it will shock everyone who wants to move here.

Houston ranked among least affordable for first-time homebuyers - Prime Property

[Meyerland]

Originally Posted by Schumacher713

No surprise at all. I bet it will shock everyone who wants to move here.

Houston ranked among least affordable for first-time homebuyers - Prime Property

It's a combination of low inventory and high demand. People are buying in neighborhoods that were typically off the home buyers radar 7 -10 years ago.

[Schumacher713]

Yea, and the builders can't keep up with the demand. There is a huge concrete shortage in Houston. It is a pain to get a hold of. It just shows you the crazy amount of people who are moving here. The apartment prices are just absurd and they just keep going up no matter how many units are being built. Luxury apartments are pushing well past the 2K a month mark for a one bedroom. I don't even want to think how bad traffic will be in about 10 years.

[hbcu]

if you want a new, decent house you will overpay in North Louisiana....what they call "golf course" community compared to a typical MPC community in Houston is night and day in terms of affordability

[cheryjohns]

A large part of the problem is they are not building starter homes. The better builders abandoned that price range some time ago. They then abandoned the price range above that, leaving it to the iffy builders. Then they went up another range. In the meantime, building supplies increased in price - especially concrete. With fewer homes in a the starter home price range - the remaining inventory (re-sales) starts to rise more because of demand. I talk to bewildered people from time to time that thought they would be better off waiting. They waited much too late.

[SouthernBoy205]

Originally Posted by cheryjohns

A large part of the problem is they are not building starter homes. The better builders abandoned that price range some time ago. They then abandoned the price range above that, leaving it to the iffy builders. Then they went up another range. In the meantime, building supplies increased in price - especially concrete. With fewer homes in a the starter home price range - the remaining inventory (re-sales) starts to rise more because of demand. I talk to bewildered people from time to time that thought they would be better off waiting. They waited much too late.

So sounds like it's not really that Houston is becoming expensive, but it's the fact that there isn't enough housing for the newcomers?

[Lowexpectations]

Originally Posted by SouthernBoy205

So sounds like it's not really that Houston is becoming expensive, but it's the fact that there isn't enough housing for the newcomers?

Uh if there aren't enough house in houston for new comers it is houston that is becoming more expensive

[Meyerland]

I just got a mailer from some random realty firm saying that if I list my home, they will waive the 3% commission. That alone tells me that homes are selling easily and for top dollar.

The problem is, where would I go? I've looked and everything I love is so much more expensive than it was 2-3 years ago.

[bayou_boy]

What home price would be considered a starter home in Houston?

[Meyerland]

Originally Posted by bayou_boy

What home price would be considered a starter home in Houston?

100,000-200,000 imo