Saw a post from one of my Facebook friends the other day that I had to share. He spoke to someone who insisted that the Dallas real estate market is about to crash. Here is the conversation on Facebook:
"Talked to an interesting guy yesterday. He was looking to buy a house here locally. He proceeded to tell me that the market in Texas was fixing to crash and he was looking for a safe purchase. I explained to him that our market is strong, our inventory levels are dropping and he rudely interupted me calling me a liar, saying its being reported nationally that the housing market is horrible and Texas hasnt been hit yet, but we will soon. He then told me "we wouldnt get along" and hung up."
There is a difference between being concerned and being irrationally stubborn about something you have read in a newspaper or seen on TV. Don't believe the national hype. REAL ESTATE IS A LOCAL BUSINESS. Always has, always will be. Every city, county, and state will always be different. Especially Texas. We like to be different. We like to buck the trend. And besides, everything is BIG in TEXAS!
What is the key to the Dallas real estate market being different? Our economy.
From Forbes:
"Perhaps not surprisingly, cities in Texas — which welcomed more than 427,000 newcomers from August 2011 to July 2012, according to the U.S. Census Bureau — dominated our list. Houston ranked second, behind Austin, followed by Dallas in third place and San Antonio in ninth. Robust labor markets, unemployment rates under 6% (well below the national average), no state income tax, a business-friendly regulatory environment, and strong population inflows all contributed to Texas towns’ high rankings."
This quote comes from the article called "America's Fastest Growing Cities". Here is how Forbes sees the Dallas economy:
- #3 Fastest Growing Cities In America
- #7 Best Cities For Job Seekers
- #8 Best Places For Business and Careers
- #18 in Job Growth
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