DOWNTOWN BIG"6"..What direction are they going??? (Houston: contractors, wage)

[dallasboi]

This is unbelievable.....more info.


Dallas-Fort Worth Leads Nation In Multifamily Investment For Fourth Consecutive Quarter
https://www.bisnow.com/dallas-ft-wor...quarter-113017

Multifamily investment volume landed at $29.2B at the close of Q1, an increase of more than 200% year-over-year, according to a new report from CBRE. The Metroplex’s reputation as a business-friendly market with sound fundamentals is attracting massive loads of capital, said Danny Baker, vice chairman for CBRE’s Multifamily Investment Sales team.

“The overwhelming demand for apartments is not an anecdote — it’s real,” he said. “There’s going to be higher transaction activity for the next couple of years.”

Investors are banking on high-growth markets with accelerating rents, and DFW checks both of those boxes. It is expected the population of DFW will outpace the nation by about 250% for the next five to seven years, Baker said, in part due to high levels of in-migration.

“The fundamentals that exist here are not common across the U.S.,” he said. “There is significant outperformance here from a rent growth perspective, and there appears to be sustainability in those fundamentals.”

An imbalance between supply and demand prompted rents in DFW to grow by an average of 18.5% year-over-year. Baker said the pace of rent growth may slow down, but DFW will likely outperform other metros for the foreseeable future. Texas is also a landlord-friendly state, which gives investors assurance that properties will continue to garner income, said Kevin O’Boyle, senior vice president with CBRE.

“We’re not throwing around rent control like some other metros around the country,” he said. “Those kinds of measures that some municipalities are putting together in other states are making investors skittish. Those red flags are not showing up in Texas.”

DFW’s tight housing market is another factor driving outsized demand for rentals, Baker said. Tenants used to view the rental market as a stepping stone toward buying a home, but many are now staying in apartments longer because of how difficult it is to buy. This is creating a scenario where multifamily occupancy rates are pushing 97%, which Baker said is abnormally high for a metro area the size of DFW.

[brock2010]

Had no idea that DFW was that big of a player in tech. From what I've heard, DFW seems to be the most diverse metro job wise in Texas.

[dallasboi]

Originally Posted by brock2010

Had no idea that DFW was that big of a player in tech. From what I've heard, DFW seems to be the most diverse metro job wise in Texas.

DFW is a humble giant in a lot of industries that it's not typically known for.

[LocalPlanner]

Originally Posted by brock2010

Had no idea that DFW was that big of a player in tech. From what I've heard, DFW seems to be the most diverse metro job wise in Texas.

Yes, DFW is practically the platonic ideal of industry diversification. It doesn't get recognized for that because that diversification doesn't include influential culture and media.

[Mr. Clutch]

Originally Posted by dallasboi

DFW is a humble giant in a lot of industries that it's not typically known for.

It's a giant for sure, but humble? Ha!

[dallasboi]

Originally Posted by Mr. Clutch

It's a giant for sure, but humble? Ha!

...Humble in some areas.

[ParaguaneroSwag]

Originally Posted by LocalPlanner

Yes, DFW is practically the platonic ideal of industry diversification. It doesn't get recognized for that because that diversification doesn't include influential culture and media.

It’s not known for it because DFW’s tech role is IT related where in Austin, you have Apple, Amazon, Facebook, and all the companies that people think of when they think it. There’s a large difference between what you find in Austin and SF and other cities with “large tech industries” like DFW, Chicago and Houston to a lesser degree.

[dallasboi]

Originally Posted by ParaguaneroSwag

It’s not known for it because DFW’s tech role is IT related where in Austin, you have Apple, Amazon, Facebook, and all the companies that people think of when they think it. There’s a large difference between what you find in Austin and SF and other cities with “large tech industries” like DFW, Chicago and Houston to a lesser degree.

DFW and Houston are not in the same category. We are #7 in the U.S.....No other city in Texas made top 10.

[LocalPlanner]

Originally Posted by ParaguaneroSwag

It’s not known for it because DFW’s tech role is IT related where in Austin, you have Apple, Amazon, Facebook, and all the companies that people think of when they think it. There’s a large difference between what you find in Austin and SF and other cities with “large tech industries” like DFW, Chicago and Houston to a lesser degree.

Tech is just one element of the mix in DFW - that's the whole point. Finance, insurance, defense, retailing, some remaining energy, logistics, automobiles,...DFW has strong elements of all these things. That is an excellent example of metro area industry diversification.

As an aside, funny that people say "SF" when they talk about the tech sector, when it was a latecomer to it. Silicon Valley, which like Austin has very limited industry diversification, is the home of tech, and has been since the 1960s/1970s, becoming even more so after the Boston area lost its prominence by the 1990s. Until the 2000s, SF/Oakland had radically different economies from San Jose / Silicon Valley.

[ParaguaneroSwag]

Originally Posted by LocalPlanner

Tech is just one element of the mix in DFW - that's the whole point. Finance, insurance, defense, retailing, some remaining energy, logistics, automobiles,...DFW has strong elements of all these things. That is an excellent example of metro area industry diversification.

As an aside, funny that people say "SF" when they talk about the tech sector, when it was a latecomer to it. Silicon Valley, which like Austin has very limited industry diversification, is the home of tech, and has been since the 1960s/1970s, becoming even more so after the Boston area lost its prominence by the 1990s. Until the 2000s, SF/Oakland had radically different economies from San Jose / Silicon Valley.

Everything here is true, it’s just besides the point. The industry in Austin, Seattle and SF (Bay Area) aren’t the same as any other diverse pool of industries that include tech. The FAANG companies put basically their entire pools in the first category. The difference between the two is fairly large and it’s about employment size.