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False Narratives About The Housing Market Refuse To Die

False narratives about the U.S. housing market refuse to die. Mainstream media and real estate industry shills continue to deflect attention from the complex, but at the same time rather simple reasons behind the lack of housing affordability. Politico author, Lorraine Woellert, offers us a perfect example of everything that is wrong with the U.S. housing market, including the mainstream media reporting on it. I hadn't come across this piece previously, but having  now read it, there are a number of red flags that are worth calling out. Woellert seems appropriately concerned that only wealthy [...]

Powell Continues FOMC’s Legacy Of Serial Arsonists

The Federal Reserve FOMC announced another Federal Funds rate hike, raising the target rate to 2.5 percent. That was widely anticipated. What the market did not like was a less-than dovish stance from Jerome Powell and his merry band of serial arsonists, as he stuck to the script that everything is awesome in the land of milk and honey. Aside from the drop in 10-year Treasury yields, there are important ramifications for the real estate market as the failures of Federal Reserve policy, and the consequences that come with it, become increasingly evident. Make no [...]

New Denton High School Campus Design Plans Presented To School Board

The new Denton High School campus design plans were presented to the board at Denton Independent School district's November 13 meeting. The $194 million project near North Bonnie Brae for a new Denton High campus is scheduled to open in the fall of 2022. The new campus is part of Denton ISD's 2018 bond package that contained a number of campus improvements and additions to handle the growing student population in Denton ISD. VLK Architects has been working with Denton ISD, along with a host of consultants, teachers and administrators, to put the project together and [...]

Amazon.Con – HQ2 Dallas Reality Sets In That City Officials Were Played

The long con is now complete in the beauty contest/con job that was Amazon HQ2. Today Amazon officially announced that Long Island City in New York and Crystal City in Virginia are the two cities where Amazon will construct a 2nd and 3rd headquarters. In a bit of public PR Amazon will also be "investing" in Nashville for a new operations hub. If it weren't crystal clear before, it should now be blatantly obvious that Dallas-Fort Worth officials were played for fools in the horse race to win Amazon's tax incentive beauty contest. Cities across [...]

10 Years After The Housing Crash, Dallas-Fort Worth Experiencing Consequences Of Policy Failures

10 years after the housing crash and the Great Recession that nearly brought the world economy to its knees, the adults in the room are still pretending that everything is normal. If you read the Dallas Morning News and the spin of many professional economists, the DFW real estate market has emerged from the wreckage 10 years ago relatively unscathed. With DFW home prices at record highs, most housing pundits are eager to suggest everything is awesome. Apparently the recent rise in home inventories is just blip in an otherwise normalization of the formerly red [...]

RECenter A&M Economists Still Wasting Texas Realtors’ Money

RECenter at A&M economists and data junkies are still wasting the dues of Texas Realtors that pay a good chunk of their salaries. It seems the Real Estate Center at Texas A&M economists are phase-locked in a myopic pursuit to somehow rationalize or justify the status quo situation with Texas housing. "Intellectual Phase-Locking is a condition that results when dogmatic 'scientific' assumptions inhibit further inquiry." Rupert Sheldrake Last year I wrote about some of the interesting details on the Real Estate Center at Texas A&M and their funding. I have also clued readers in on the [...]

Zero-Down Mortgages Return With New Names

Surprise! Zero-down mortgages are back! Just when you thought we had learned the lessons of the subprime mortgage meltdown nearly a decade ago, along come new twists on an old formula. The recipe is pretty simple, and the inevitable outcomes are fairly predictable, yet that won't deter some people from making irrational decisions when it comes to the fear of missing out (FOMO). The latest strategies to put cash-strapped buyers into homes they probably can't afford are similar to crowdfunding. HomeFundMe is an example of one such program where buyers can solicit donations for a [...]

Autopsy Report For Affordable Housing In Dallas Fort Worth

An autopsy report for affordable homes in Dallas-Fort Worth reveals the steady evaporation of affordable housing inventory in the DFW area. Recent data show that housing prices in the U.S. are currently at their least affordable levels since the financial crisis. The latest numbers on existing home sales showed that the median price of a home hit a new all-time high. So how did this all happen? Was it an accident? Is it due to our smashingly great economy? Let's find out. As investors and speculators have gobbled up lower-priced homes across the country to [...]

The 9 Percent DFW Home Sales Gain That Didn’t Happen

The Dallas Morning News continues to allow real estate editor Steve Brown some serious latitude with the truth when it comes to DFW home sales. In the latest article on May home sales Mr. Brown would apparently have you believe that "11,302 preowned single-family homes" traded hands in May. Unfortunately that didn't happen! You would think that Dallas' largest newspaper would have the resources to fact-check the rubbish Mr. Brown is printing in the digital edition of the paper, but apparently that is asking too much. The Dallas Morning News real estate desk is quoting [...]

Denton ISD Housing Activity Poised For Future Growth

The Denton Independent School District board of trustees received their quarterly growth report at the last school board meeting. The Q1 report from Templeton Demographics highlights current district growth patterns as well as future lot development within Denton ISD's 180 square mile boundary. There are also some interesting statistics on Denton home prices and Denton homes for sale. Some of the more interesting highlights from the demographic report include: Student Enrollment within Denton ISD stands at 29,420 Unemployment rate of 3.2% within Denton ISD, compared to 3.7% for the DFW MSA Over 32,000 future new [...]