Trends in Dallas, TX?
Would love to hear people's opinions on current real estate market in Dallas (anything from residential to retail to warehouses, etc) and thoughts on future trends from people experienced in the area.
[{"id": "dedbnak", "text": "Growing like you cannot imagine. Supply is trying to keep up with an ever growing demand. residential homes being sold hours after listing. For the asking price paid in cash. Money coming here from CA, NY, the east coast, and even other countries. REIT's going nuts. Commercial land at record prices AND selling at them. ", "replies": [], "depth": 1}, {"id": "dedu8o9", "text": "I lived in Dallas and worked in the Commercial Real Estate sector from 2015-2016 and can tell you the market is currently en fuego. The reason for this - like many other markets - is complex, nuanced, and is driven by a multitude of factors. I will hit on a couple of them: \n\nCost of living vs. Bay Aera/LA/NYC - This is a really big and important factor for the younger millennials moving to North Texas. What used to be NYC, Boston, LA, SF - Millennials are now looking for a better trade off between cost of living and quality of life. Dallas - with its insane job growth attracts lots of millennials from all of the country for relocation. Hell - I moved from Boulder, Colorado to Dallas for work. Dallas is now extremely competitive hiring top talent from schools across the country where typically those students would go to coastal financial centers. To millennials, the world is smaller, and they are realizing that they can have the best of both worlds in Dallas where you are only 4 hours from every major US city.\n\nCorporate Relocations - Corporations like their employees to be happy, close to work, and have access to good schools (among other things, but that's what they look for when they move thousands of people across the county). Dallas provides a great option for companies relocation from major coastal cities which lack these requirements. North Texas' population is huge, over 7 million people, which means companies will have access to lots of highly educated people to join their workforce. The city of Dallas has worked for years to attract corporate relocation and they have done an excellent job of making it happen. Look at the billion dollar mile, or the State Farm HQ, Toyota, Liberty Mutual, JP Morgan. These companies spend hundreds of millions of dollars to secure cutting edge work spaces that will attract top talent. \n\nTexas BBQ - need I say more?\n\n", "replies": [], "depth": 1}, {"id": "defaxdb", "text": "Thanks for your replies! Do you think MF or commercial RE is approaching the top of the cycle from a valuation perspective?", "replies": [], "depth": 1}]