Buying a home in Dallas is getting more difficult

The median income is just over $58,000 and the average home price is just over $400,000.

[@DTX_AEther_Diamond_214]

They need to stop housing companies from buying out a certain amount of properties.

[@dancox3251]

@@HorrorAlgorithm0x1337 Actually mom-and-pop investors own and have been purchasing the vast majority of homes. They are heavily incentivized by the government, especially after the GFC to buy more houses. Most of the people I know own 2, 3, 4 or 5+ houses. None of them work on Wall St.

[@CR-sj6px]

Talk doesn’t solves problems. Need to put DISADVANCE property Tax if own more than 2 single houses for the owner with LLC , private name and corporation.

[@underground9260]

They aren’t doing it as bad as they we’re when the interest rates were very low between 2020-2022. Housing during that time skyrocketed out of control. I literally couldn’t deal with it anymore and ended up leaving Texas.

[@ronp-eb9bh]

Welcome to corporate owned America.

[@juanzuniga7616]

How do the average income equals less than60 grand yet somehow the average house is worth 400 grand.

[@neanam]

Can you say swamped in debt

[@raep3713]

Developers and migration from other states. People moving from states like New York and California are able to take their money and buy houses with cash based on the profit they made selling in their home states.

[@spacesoup6797]

ban corporations from owning family homes

[@Cmorrison626]

“Thanks Newsom!” Oh wait…

[@Xx-po1fu]

You should be thanks Governor Abbott, buy you are not brave enough to tell the truth

[@theformulated1]

Texas isn't red... It's purple & slowly going blue

[@jasoncrandall73]

Legislature Party totals 88th (2023) House - Republican 86 Democrat 64 Senate - Republican 19 Democrat 12 Governor- G. Abbott Republican. Looking pretty Red to me. 🤷

[@lordjael]

...and somehow, Americans think this will change dependent upon who is in the Oval Office. Smh. 🤡

[@alejandrohernandez7340]

The fact that home are already harder to buy and blackrock hasn’t even started its stock exchange in Dallas is already bad enough!!

[@chingllac]

I'm selling my house soon here in Plano which is 25 minutes away from Dallas.

[@jdwool08]

So what

[@chingllac]

@@jdwool08 life is better for you and me if you don’t respond to this comment. It’s clearly not for you.

[@naturelover2292]

Please don’t sell to a greedy investor. Sell to someone who is looking for a home to live in, raise their family.

[@Soulfuljoi86]

Where do you live in Plano? My family and I might be interested!

[@daniella8400]

Don’t sell to investor, ask to meet new owners before sale.

[@CR-sj6px]

😣Talk doesn’t solves problems. Need to put DISADVANCE property Tax if own more than 2 Single houses family for the owner with LLC , private name and corporation.

[@jameskocks4734]

Getting??

[@Susan0000007]

OMG! How are Texans not blaming Californians! Come on guys - THINK! You can come up with some way to blame 'em.

[@starventure]

Californians are buying houses in Texas cash in hand.

[@8269wd]

Homes are pretty cheap but taxes is expensive.

[@Sunset4Semaphores]

*This is news?!*

[@mariusfacktor3597]

2:05 Her nonprofit is giving assistance to homeowners whose home as appreciated greatly in recent years. Those homeowners got very wealthy through just sitting and doing nothing. Those homeowners are among richest people in Dallas. They don't need assistance. If you bought your home for $150k and now it's worth $600k, then you got rich from doing almost nothing. Congrats, but no, you don't need assistance. Poor people need assistance. People who rent need assistance. Wealthy homeowners do not need it. They can sell and downsize any time they'd like (which would free up some housing for those looking to buy).

[@SDALLE99]

The point is these homeowners *are* poor. House appreciation isn’t always a good thing. A lot of these homeowners are disabled and retirees who bought a small home not to get rich, but just to have a place to spend the rest of their lives. When the market value increases, tax increases, so significantly that it forces these people to lose their home. Imagine working hard your entire life, saving every penny to afford a small house to retire in, only to be robbed of all your effort through no fault of your own. A lot of these people are old, ill, and disabled, they can’t just sell their house, pack up and move. Where are they gonna go? How are they gonna afford a new mortgage? Especially in this economy where a full time job is not enough to survive. If their house goes up to 600k, then inflation have ate 599k. And what about those renters? They have had forever to get a house but they dilly dally and failed, and now they get crushed under corporate greed. That’s not the homeowner’s fault and the homeowner does not owes them anything.

[@scotts9760]

You will own nothing and be happy.

[@Dblup]

You will own nothing and won’t be happy.

[@DavidRamirez-fi2ev]

Come to Houston im a realtor!

[@Dee-w5y]

Home values in Dallas are declining rapidly.

[@Jzak25]

When you AVG the household income, PLEASE exclude the 5% on both ends of the spectrum. When you throw an Elon Musk guy (or two) in the equation, the numbers are meaningless.

[@Xx-po1fu]

Blame Gov. Abbott

[@tx_7134]

Nothing to do with him, has everything to do with a dead middle class

[@tobiaskozlov5151]

oh no 5 whole bids?! how will he recover?

[@renewashington791]

From what I hear, WHO wants to live in Texas anyway? 🤷🏽‍♀️

[@lalalalalalalala4264]

Doom and gloom talking about RE crash for years, so why does it matter if investors buy up homes?

[@HausofLuciana]

Insane

[@jsundberg5542]

why don't we get biden to buy houses for everyone!!

[@SIGNALFREQ]

Hmm 🤔 Marshall and his partner 🌈

[@Rashaadthegr8]

Companies shouldn't be able to buy houses. That's insane. Stick to private prisions thats guranteed business that most people don't care about.

[@mariusfacktor3597]

lol nooo please not any more private prisons. You're heart is in the right place, but there was a study done on a city which banned investors from buying homes, and it didn't lessen prices. Home prices are determined by supply and demand. Dallas, like many cities in the US, bans low-cost housing with Exclusionary Zoning which are arbitrary rules that straight up ban apartments and condos and duplexes because then poor people would be able to afford to live in the neighborhood. As a result of these zoning restrictions for the last 50 years, there now isn't enough housing for everyone, so the price for housing keeps going up. Unfortunately this also causes suburban sprawl which is bad for the environment. It's time to repeal the classist (and racist) zoning laws which bans low-cost housing. Austin did it and rents went down.

[@Rashaadthegr8]

@@mariusfacktor3597 Idk if it will lower price but it will increase availability. I was just joking bout the prisons.

[@mikeprice4103]

I blame ted cruz