Here’s the main reason Toyota is moving from California to Texas

Toyota Logo“The main driver of Toyota’s move from Torrance, California, was housing costs, according to Albert Niemi Jr., dean of the Cox School of Business at Southern Methodist University, who has inside knowledge about the move.”

My wife and I watch “Million Dollar Listing Los Angeles” on a regular basis.  This is likely very true.

If you haven’t watched it, you should take a look.  It is very entertaining.   

See the entire article at the Dallas Business Journal.

DBJ: The fastest-growing ZIP codes in North Texas

Dallas is thpage_rac_conferencee third fastest-growing city in the United States, according to Forbes list of America’s 20 Fastest-Growing Cities 2015.

Residents are moving in but they are also moving to the north of the Metroplex. Collin County holds 36 percent of new citizens in the ranking ZIP codes, followed by Denton County with 28 percent of the ZIPs, 20 percent in Tarrant County, 12 percent in Dallas County and only 4 percent of the new denizens reside in Rockwall County.

Using data from geographic information systems provider Esri’s updated estimates, forecasted variables and U.S. Census data for all ZIP codes, I examined the North Texas areas zipping to the front of population growth in the region.

Take a look, to see the growth rates and projections for various ZIPS.

The way we live, city by city.

the way we live

This chart is based on data from the 2014 American Community Survey concerning the characteristics of occupied housing.

It offers a very interesting look at the preferred housing in the largest cities across the United States.

To see more cities and how your area compares, go to the article in the Washington Post.

Texas home sales and prices up about 7%


gallery_03REAL ESTATE CENTER:  Latest Multiple Listing Service (MLS) data show Texas home sales had a 7% year-over-year increase last month while the median price was up 7.4%.
According to August 2015 Texas MLS data, 29,685 homes were sold last month, almost 1,900 more than a year ago but about 1,500 fewer than in July.
The median price was $203,300 compared with $189,300 a year ago and $204,700 in July.

Study Finds: First-time Homebuyers are Not Riskier

First-Time Buyers are Younger, Less Sophisticated, Poorer – but Not Riskier

Mortgage News Daily, July 10, 2015

by:  Jann Swanson

A working paper just released by the Federal Housing Finance Agency (FHFA) attempts to determine the reasons why mortgages given to first-time homebuyers perform more poorly than those given to repeat buyers.  The Marginal Effect of First-Time Homebuyer Status on Mortgage Default and Prepayment was written by Saty Patrabansh of FHFA’s Office of Policy Analysis and Research.

Given that homeownership is generally considered a societal benefit and that many government policies focus on incentivizing first-time buyers the author says it is important to understand whether first-time buyers as a group are likely to default at higher rates than repeat buyers both in order to anticipate that an increase in the rate of first-time homeownership could lead to increased foreclosures and negatively affect communities and because, if they do not default at higher rates it is important they not be treated as more risky buyers.

Read entire article Here.

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