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Re: Houston, Dallas, Austin Real Estate bubble?
Old 08-29-2006, 12:55 PM   #21
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Re: Houston, Dallas, Austin Real Estate bubble?

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Originally Posted by eridanus
People left their house keys in the door. They just up and left town, never to return.* My neighbors did it. The house was open and there was a useless checkbook on the abandoned kitchen table. The phone had been thrown through a window and was laying outside. As a kid, it was somber exploring.

It took about 7 years to recover.
Its according to what you mean by recover... my house value has just gone over what the previous owner to me paid for it... I got it at a 50% discount from his price... and it still went down from my purchase price by 10%...
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Re: Houston, Dallas, Austin Real Estate bubble?
Old 08-31-2006, 07:48 AM   #22
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Re: Houston, Dallas, Austin Real Estate bubble?

I am not as pessimistic as others here regarding the outlook for TX real estate. We are under valued compared to many parts of the country, jobs markets are good, and there is no state income tax. I expect to see steady influx of folks relocating to states like Texas, both baby boomers and those in their 20-30s that want outdoor lifestyle and reasonable cost of living. Will values here decline if real estate totally tanks, yes, but I don't expect to see a huge downward correction like many states will experience. Since I live in a desirable city, that is largely built out (not having to compete with new construction), I am not concerned about seeing my home value implode.

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Re: Houston, Dallas, Austin Real Estate bubble?
Old 08-31-2006, 02:34 PM   #23
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Re: Houston, Dallas, Austin Real Estate bubble?

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Originally Posted by DFW_M5
I am not as pessimistic as others here regarding the outlook for TX real estate.* We are under valued compared to many parts of the country, jobs markets are good, and there is no state income tax.* I expect to see steady influx of folks relocating to states like Texas, both baby boomers and those in their 20-30s that want outdoor lifestyle and reasonable cost of living.* Will values here decline if real estate totally tanks, yes, but I don't expect to see a huge downward correction like many states will experience.* Since I live in a desirable city, that is largely built out (not having to compete with new construction), I am not concerned about seeing my home value implode.

DFW
I think you misread the posts.. we are not saying it is about to implode... that it is still under historical values from the LAST implosion... and that if the coast 'get sick' we will feel it a bit.. but no implosion...
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Re: Houston, Dallas, Austin Real Estate bubble?
Old 08-31-2006, 03:17 PM   #24
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Re: Houston, Dallas, Austin Real Estate bubble?

I live near Houston and this summer the price of homes in my neighborhood have jumped in a bubblesque fashion. Fortunately, the surge in home prices (from $260K to the $325K to $375K range in just one year) occurred after we successfully achieved a reduction in property taxes because home prices hadn't gone up in 6 years.

So I don't see any drop in home prices in the forseeable future, but only increases. Well, at least until all the out-of-staters moving here come to their senses and realize that $350K for a house is not a bargain, but paying way too much.
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Re: Houston, Dallas, Austin Real Estate bubble?
Old 08-31-2006, 03:54 PM   #25
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Re: Houston, Dallas, Austin Real Estate bubble?

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Originally Posted by Texas Proud
I think you misread the posts.. we are not saying it is about to implode... that it is still under historical values from the LAST implosion...* and that if the coast 'get sick' we will feel it a bit..* but no implosion...
Texas Proud,* I am simply expressing my opinion in response to the original post and my observation of the tone of several of the posts in this thread.* If you don't agree with my view/comments, thats fine, but you should speak for yourself and not use the collective "we are not saying."

Cheers,

DFW
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Re: Houston, Dallas, Austin Real Estate bubble?
Old 08-31-2006, 04:07 PM   #26
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Re: Houston, Dallas, Austin Real Estate bubble?

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Originally Posted by DFW_M5
We are under valued compared to many parts of the country, jobs markets are good, and there is no state income tax.
I think so too.* Houston is even more undervalued than DFW.* However, I do think Houston will be affected slightly, very slightly.* I think home price here will increase about 1% annually, which is an actual 2% decrease in inflated dollars.

Quote:
Originally Posted by DFW_M5
I expect to see steady influx of folks relocating to states like Texas, both baby boomers and those in their 20-30s that want outdoor lifestyle and reasonable cost of living.
I think you're right about the influx.* *I'm not crazy about the idea, though.

What outdoor lifestyle are you referring to?* I see very little outdoor activity in this perpetual oven compared to say Boston, or Southern California.
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Re: Houston, Dallas, Austin Real Estate bubble?
Old 08-31-2006, 04:29 PM   #27
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Re: Houston, Dallas, Austin Real Estate bubble?

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Originally Posted by Sam
What outdoor lifestyle are you referring to?* I see very little outdoor activity in this perpetual oven compared to say Boston, or Southern California.
Sam, What I mean by outdoor lifestyle is you can enjoy outdoor activities like golf/tennis/jogging/boating/etc all year round, kids sports have extended seasons, we are not subject to too many rainouts and we don't have to contend with the freezing temps and snow like the northern climates. I hear ya on the oven part thou, its been a long hot summer.

DFW
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