DPatel304 wrote:Dallas isn't that desirable, especially when you talk about city living.
DPatel304 wrote:Ah, that's good to know. That is definitely interesting, but I'm not so sure it represents a 'shift', just yet. I think there is demand for both suburb living and city living, but, the thing is, DFW suburbs are HIGHLY desirable, so it's no surprise they are still going strong. Dallas isn't that desirable, especially when you talk about city living.
Also, I'm curious to know if the suburbs were late to the party when it comes to multi-family construction. Is it possible that Dallas had a strong start with multi-family construction, while the suburbs were still building single-family homes, and now things are generally balancing out?
Cord1936 wrote:DFW's GDP is now $511,606,000 billion - up from $493,048,000 billion in 2015.
GDP release: https://www.bea.gov/newsreleases/regional/gdp_metro/2017/gdp_metro0917.htm
Tnexster wrote:That is quite a drop for Houston, I wonder how the floods will impact them? Lots of economic activity in rebuilding but not sure about the longer term prospects.
Matt777 wrote:It's crazy how so many midrise and highrise condo and office projects are getting approved and started in Houston despite the weakening economics of the area and low absorption rates. Whereas in the arguably strongest multifamily and office market (DFW), basically no decent highrise condo projects to speak of and office buildings can't be built without heavy pre-leasing. Nothing on spec.
clcrash19 wrote:man we are kicking houston's ass right now in economy and growth.. the next five years could only widen the gap between houston metro and dfw.
Tnexster wrote:clcrash19 wrote:man we are kicking houston's ass right now in economy and growth.. the next five years could only widen the gap between houston metro and dfw.
I wonder how much of that gap will close if oil stays up fairly high? It has been fascinating to watch the two metros growth patterns evolve.
DPatel304 wrote:The numbers definitely look good for North Texas. From my own personal observations, it seems like the quantity of projects has declined, but, at the same time, quality has really increased.
I guess it's hard to maintain the same level of quantity we had before when we were getting a lot of low-quality mid-rises that looked boring and cheap, so I wouldn't classify less quantity as a 'slowdown' but it seems like we are entering a new phase where each project really has to step up its game to justify the costs.
I will say I don't have any numbers to back up my claims, so I could be wrong about the 'quantity' part, but this just seems to be what I have observed recently.
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