re: The U.S. Housing Boom Is Coming to an End, Starting in Dallas

Here is what I know...

Many people in late 20s to early 40s who couldn't care less about home ownership. It is becoming less and less a status symbol. It is just too complicated for some.

Less people getting married and more divorces.

Many of the late 20s just do not think paying more for a garage, a yard, and having to fix problems yourself as opposed to calling maintenance is worth it.

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In the high-end subdivisions in the suburb of Frisco, builders are cutting prices on new homes by up to $150,000. On one street alone, $4 million of new homes sat empty on a visit earlier this month. Some home builders are so desperate to attract interest they are offering agents the chance to win Louis Vuitton handbags or Super Bowl tickets with round-trip airfare, if their clients buy a home.

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My God

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Many people in late 20s to early 40s who couldn't care less about home ownership. It is becoming less and less a status symbol. It is just too complicated for some.

Less people getting married and more divorces.

Many of the late 20s just do not think paying more for a garage, a yard, and having to fix problems yourself as opposed to calling maintenance is worth it.

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Also, at least in our area, unless it’s higher end homes they’re generally thrown together shittily and inevitably higher cost to maintain than an older, well-built home. A lot of people my age (30s) are investing in older homes instead.

i just read that.

here's paywall circumvent link: LINK

i found it amusing that a pussy-assed young family bitched about 1500sf being too small for husband wife and two young kids. i mean, fine if you want more space, but the wording of that part just made me roll my eyes. make the kids pick up their fricking toys and save your money.

Not shocked

No it’s great news for me. I’ve been sitting in this fuggin apartment in North Dallas waiting for the dang market to fall through.

Now it’s a buyers market :)

All tbose millennials moving to place like Dallas can’t afford to buy a house.

People like Mingo and TH03 can only afford $1200/month 1 bedroom apartments

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I think they cleaned up the ridiculous mortgage swap practices and whatnot at big investment banks, but mortgage loans are still very easy to come by and interest rates are still ridiculously low. 

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They're already back to pulling the same shite already. It'll collapse yet again and then the government will use our bucks to put another bandaid on it and no one will be punished. Rinse and repeat until the bandaid cant fix it.

Young people should buy what they can reasonably afford but on a 15 year note. The interest to equity differential between a 30 and a 15 year is ridiculous

First 7 years on a 30 year note 95% of what you are paying is interest. Terrible investment if you ever plan to move

My first house was $225k. 15 year note and I was applying $10k a year towards principal. After 5 years between that principal and appreciation I was $100k up as I moved to the next house

It’s the same as putting $800 a month into an IRA.

Renting for life like the one young poster suggested earlier is a bad move. Make a smart investment in a good area and with the right payment structure and you can build wealth

It too bad high schools don’t teach a basic financial management course. Young folks would be much better prepared once they got out of school

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wealthy pockets in major cities are so fricking pretentious

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FIFY