A new home used to be an option for many buyers. Not so much anymore (photo: Eric Dunlap)
In Part One of this look into the end of affordable housing in the Dallas-Fort Worth region, we discussed the giant void of quality homes under $200,000. This void will continue to move housing prices upward, force buyers to spend more than they should, and create a stagnant sales economy in our community. Neglecting the needs for a large segment of the population will have a dramatic effect on the housing industry in all price points.
What’s The Problem?
When I first started selling homes in the early 2000s for a D/FW-based tract home builder, the homes were listed from $85,000 to $135,000. Yes, they were located in a rural area where there weren’t a lot of high paying jobs, but the point is that the developer was able to sell land to the builder who was able to offer a new home for a reasonable price.
And now that is an impossibility.