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re: The Wild DFW Housing Market--my experience
Posted on 3/27/17 at 9:52 am to The Spleen
Posted on 3/27/17 at 9:52 am to The Spleen
I have a lot of friends that have sold recently just because they get offers they could not pass up.
I don't see how it's sustainable. I bought a house 1.5 years ago and if I had to buy it now I would not be able to afford it.
I don't see how it's sustainable. I bought a house 1.5 years ago and if I had to buy it now I would not be able to afford it.
2
Posted on 3/27/17 at 10:16 am to Eric Nies Grind Time
quote:
I don't see how it's sustainable.
It isn't, long term. Right now I just hope it holds up through this year.
I have another rental house where my (for all intents and purposes) stepdaughter and her family live. She is moving back to near where her grandparents and other family members live; her husband has some financial issues to deal with here (I've agreed to help him on those so he can move there later this summer). Once they're out, that house gets fixed and on the market, hopefully to be sold by Labor Day.
That gets me out of the rental property market completely, with only my personal residence. And I have had cold calls on the phone and real estate agents coming up to the house asking if I want to sell. But I still have a ways to go before retirement (around 10 years) and I like where I'm living.
This post was edited on 3/27/17 at 10:19 am
Posted on 3/27/17 at 10:34 am to Eric Nies Grind Time
quote:
I don't see how it's sustainable.
While I'm not ruling out a bubble. I don't think you'll see 2007 & 2008 again with this. A few things are different right now.
Since 2010, housing inventory has remained flat while over that time, with low rates and increasing wages, demand has crept up. You're also seeing this rapid demand as the workforce continues to become more mobile so people and companies are seeking out regions that are desirable from a wage/taxation standpoint and quality of life.
Massive influx of new residents, limited supply based on lagging construction, and competitive rates all get to this level of demand.
While y'all have mentioned a few locations...its still specific to a relatively small number of communities. Mostly in the south and mountain west: DFW, Nashville, Denver, RDU/Triangle, Atlanta, etc.
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