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Strategies & Market Trends : Value Investing
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To: Graham Osborn who wrote (57771)8/15/2016 9:06:31 AM
From: Micah Lance  Read Replies (2) of 78739
 
I can't tell you how it will affect TBNC, however I live in the Dallas area and the stories in the Dallas Morning News regarding housing are a bit insane.

My personal favorite: bizbeatblog.dallasnews.com - Multiple stories like this, people camp out for LOTS, not homes but the plot of land (WTF), also keep in mind McKinney is about 30-45 minutes from Dallas so this isn't for homes close to work.

Near where I live, zero lot line townhomes are selling for $400-500k after being on the market for only days at a time. I've had at least three people tell me that their houses have gained 50% year over year in price. They live fairly close to business centers and those home prices are just skyrocketing.

The cherry on top is that people are now cold calling offering cash for homes. My friends and I have experienced this multiple times, one even asked a realtor about it and apparently they're legit. Who knows? Either way the housing market is getting crazy, which is probably putting it mildly. Case Shiller is 50% higher than in 2007, while according to the Dallas Fed the economy appears to be slowing (essentially no job growth through 1H 2016, as Q1 and Q2 have essentially broke even). People have come up with a ton of excuses why it's different this time, but I think we all know how that goes.

Hope my rant helped or offered some insight.
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