The estate market in North Dallas is moving slow but doing better in past years. The apartments in North Dallas are among some of the lowest in the market. Housing market has been seeing the most pickup in the previous years. A lot of this is due to the economy turning around and showing some positive growth.
We have seen some investors in the stock market making some positive gains driving the housing industry out of their slump since the president took office in 2008. Most of this decline happens during the Bush junior presidency. The housing bubble was created and just so happens it couldn’t sustain much longer, and we saw the housing market crash in 2009.
Lots of people took these loans and thanks to good credit they were able to live sometime before things needed to be paid back. Some of the people didn’t have enough credit at all and still accepted. Like most things being bought on credit and loans, they had to be paid back at some point. With all their resources tapped out and dried up, we start to see defaults on loans and people going homeless and moving out. It was leaving the market stale, and now no one is looking to build homes or buy one that is on the market.
We are starting to see change. Jobs produced and now this is having the effect on the real estate market. Jobs are the fueling power to drive the economy and create better lifestyles for the people working them. They are starting new families and looking to purchase homes to live in. Homes are being built new again, and this is making new jobs or jobs are beginning to hire people to do work now. All of this has a significant impact on the market turning around to show some positive growth.
During the crash, people were able to get rock bottom prices on houses and even some small apartments in North Dallas area. Some of these homes and apartments were in bad shape. Lots of repairs needed to them but most found a way to make a profit or just sit on the property. Now they are selling these homes for a good profit with the turnaround and growth we see in the market today. This as well has a positive impact on the housing market.
Now I don’t know if this will happen. The case is hard to predict unless something has a significant impact on our society. The market has such a steady upstream that another crash would be unlikely. War could have an effect on this slightly. If the war fought on our soil, this would be a significant impact on the market in a negative way but if fought in foreign territory then investors would sell stock and buy war bonds, etc.
It would have a smaller impact, but this would be noticed with the slow but steady growth that’s incurring at the moment. It would take a major intent to hurt the housing market, but several smaller impacts would do the same damage. New loans being created should be looking at credit history better. Make sure these loans offered can be paid back by the lender. It was an important cause in the first place why the market took a turn for the worst. Helping people purchase a home who can afford it in the long run never works.
There are some excellent opportunities out there for the housing market. If things keep moving in a positive direction, we should see a good stable market in 5-10 years.