The Whole Country Is Starting to Look Like California

[Olde Hornet]

MSN

Something is happening in the housing market that really shouldn’t be. Everyone familiar with America’s affordability crisis knows that it is most acute in ultra-progressive coastal cities in heavily Democratic states. And yet, home prices have been rising most sharply in the exact places that have long served as a refuge for Americans fed up with the spiraling cost of living. Over the past decade, the median home price has increased by 134 percent in Phoenix, 133 percent in Miami, 129 percent in Atlanta, and 99 percent in Dallas. (Over that same stretch, prices in New York, San Francisco, and Los Angeles have increased by about 75 percent, 76 percent, and 97 percent, respectively).

This trend could prove disastrous. For much of the past half century, suburban sprawl across the Sun Belt was a kind of pressure-release valve for the housing market. People who couldn’t afford to live in expensive cities had other, cheaper places to go. Now even the affordable alternatives are on track to become out of reach for a critical mass of Americans.

The trend also presents a mystery. According to expert consensus, anti-growth liberals have imposed excessive regulations that made building enough homes impossible. The housing crisis has thus become synonymous with feckless blue-state governance. So how can prices now be rising so fast in red and purple states known for their loose regulations?

 

[LAW DAWG]

My one minute synopsis is demand, inflation, tariffs and corporate greed. The investor class are snatching up homes everywhere thereby decreasing supply on the market, causing more demand and thereby driving up prices. Inflation is taking its toll on existing homes and new home building. Dump's tariff's will add to the problem exponentially. Corporate greed will always be a factor regardless of market conditions, but mergers and acquisitions feed the beast and increase its appetite for more. Texas is a state that had many homebuilders at one time, I suspect mergers and acquisitions account for that dwindling number.

 

[Herbert77060]

My one minute synopsis is demand, inflation, tariffs and corporate greed. The investor class are snatching up homes everywhere thereby decreasing supply on the market, causing more demand and thereby driving up prices. Inflation is taking its toll on existing homes and new home building. Dump's tariff's will add to the problem exponentially. Corporate greed will always be a factor regardless of market conditions, but mergers and acquisitions feed the beast and increase its appetite for more. Texas is a state that had many homebuilders at one time, I suspect mergers and acquisitions account for that dwindling number.

Therein lies the danger of less competition. Monopolies will kill an economy. Monopolies should be illegal in my opinion.

 

[skyvolt2000]

So how can prices now be rising so fast in red and purple states known for their loose regulations?

Pay attention to WHO is buying up buildings.

Example a school district put up some land and even some old buildings up for sale. They were not asking for much for them. All under a million or under half a million.
There was a bid for a building by ONE company for 2 million dollars. They only wanted $500K.
The building was off the freeway and in an area near Fair Park. It was a former school that got replaced by the new one across the street.

For all intent purposes-I wouldn't want it. A business like say McDonalds let alone a Target would cause too much of a traffic issue. With it being next to a school there would be restrictions in what could be put there.

I am not sure if the deal went through but the fact a company would put a bid that high for a bad location WHILE a better one near 2 freeways, a ton of medical facilities, 4 mega churches (IBOC and Friendship West on the same street) and Carter High School remains unclaimed.

Elsewhere near I 75-you saw a TON of house bought up and torn down. They got replaced with houses that can hold 2 households by having 3 floors. A ton of them-that have you within walking distance of 3 DISD schools (6 but you have to walk over the freeway to get to them), Target, Kroger, What A Burger, Dart Rail and 2 popular bus lines.

Over in Fort Worth-they have to close 18 schools. Why? A ton of reasons but the HUGE ONE-HOUSING.
NOBODY can afford to move into certain parts of Fort Worth.
And that is a trend hitting WHITE AREAS in Texas-folks can't move into houses and that is being made worst by the guy in the White House.