Someone in America needs to make a retro style budget friendly $10k car.
Bypass dealerships. Sell online.
Low tech. High reliability.
Easy to maintain & service anywhere.
AKM
12.6K posts
AKM
@akm515
Real Estate with a Texas focus.
M&A specialist | Economist.
WSJ best selling author.
Educational purposes only. Not financial, legal, or tax advice.
Dallas, TX
Joined November 2011
- Yeah, Dallas is screwed. A friend of ours, family of 4 are leaving because they can't afford to live here on a $165,000 salary. They were comfortable pre-covid on a salary of $120,000. Now, they can't survive in Frisco any longer.
- Property taxes in Texas. $14,000 on a 3500 sq ft house. The economics of home ownership just doesn't make sense anymore for 90% of home buyers.
- IF this is made law and implemented to existing H-1B visas as well. Goodbye to Dallas' housing market. I've said all along that a real estate "crash" is extremely unlikely but killing the H1B visa could very well trigger a crash in DFW.H-1B fee of $100,000 is not a one time fee. It is $100,000 per year, every year. H-1B is dead. They might as well end it formally.
- Inventory homes aren't moving in Dallas. An entire street full of newly constructed UNSOLD inventory homes, built by Mattamy Homes. They've been available for sale since the summer.
- So a significant portion of Gen Z are: - Paying social security into a fund that will go bankrupt before it pays them a dime. - Paying student debt for a degree in a job market that is rapidly declining - Paying rent in a housing market that has shut them out of ownership -
- "No matter how well I perform at work, literally only the executive leadership can afford to buy a decent house for a family of four right now. $225k is the absolute minimum salary needed." - a friend exiting Dallas
- Trump just crushed the H1B visa program. Great news for those seeking a job, especially in tech. Bad news for real estate investors in cities like Dallas. This could trigger an abrupt decline in demand along with a surge in listings. A substantial housing price correction
- Goodbye credit scores. 👋 5.3 MILLION borrowers are in default on their federal student loans for over a year. Credit scores are about to take a hit and then some. This will surely take significant number of prospective buyers out of the housing market for a while.
- Home seller is wondering why he can't sell his 2021 build. Bought for $800k at 3% interest rate Listed for $900k with the typical rate around 6.8% It's not selling because the math does not make sense at current interest rates.
- Layoffs coming to construction in Texas. Talked to a builder over a run today. Well, in between running - we're too gassed to chat while we run. "We're scaling back plans for Texas. We're going to slow down construction significantly." "There's just no traction with sales
- Lots of threads in the DFW area right now asking why there are "so many homes for sale" or why "nobody's buying"
- Income inequality seriously needs to be addressed in America.The top 10% now hold 67.4% of all the wealth in the US. The bottom 50% hold 2.5%.
