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Strategies & Market Trends : Value Investing

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To: Graham Osborn who wrote (57788)	8/15/2016 12:20:39 PM
From: Micah Lance	Read Replies (1) of 78702

Coworkers wife is a realtor, he mentioned that people are now sweetening their offers to make sure they get the house they want... Covering any additional costs, things like that. It isn't sustainable at all. Most are being completely priced out of the market. 30k homes are being built this year and 50k apartment units in the DFW area, so a ton of supply is on the way. As for energy, Houston area has massive exposure. It's the hub for Texas oil and gas, there's a lot of drilling in Midland too (which has had to cancel quite a bit of expansion b/c of the oil price decline). Dallas more has company headquarters as I understand it. I believe HFC and others are headquartered here, but no drilling like in south Texas. Go look at charts for Dallas, Houston, or Texas a whole in 2006-2008. We didn't experience what the US did at all, barely any drop in housing prices or the overall economy. As far as I can tell we are experiencing that now. Longer term, DFW is expected to pass Chicago as the 3rd largest metropolitan area so there could be quite an opportunity here when things come back down to earth.

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