Don’t Faint: A Shortage of New Construction In Dallas Real Estate?
That’s what Steve Brown wrote Friday, but this little quote peeped right out at me because I’ve had this nagging fear —
“Tim Jackson, a Collin County custom builder who is president of the Home Builders Association of Greater Dallas, predicts new-home prices will rise next year unless starts increase.
“We just can’t get the funding to start new houses,” Jackson said. “I’m fortunate to have a good relationship with a local lender, and they allowed me to start a speculative home four or five months ago.
“But I doubt they would allow me to start another one,” he said. “Even if we have a customer who wants to build, they are oftentimes finding it difficult to find construction financing, too.”
What’s my fear? That all the elements putting the brakes on the market — in effect, constipating it — will ultimately raise prices on construction costs, new homes, taxes, closing costs, materials and labor so much that homes will be out of the average or lower-income individuals grasp.
Awards | Archives | Reprints | Custom Publishing | Jobs | Advertiser's Index
Wow, what a fantastic unbiased opinion by the president of the HBA. Didn’t see that one coming.
Tim Jackson is full of poop. Keeping lobbying, keep lobbying.
This is what is happening, Candy is spot on, you guys just keep living on that river in Egypt.
Look at the numbers. Inventory is down. People could be working and building if the banks would do there job.
Tim Jackson is 100% correct! Yeah, those Builders with a good reputation and good banking relationships can start 1 or 2, but the days of starting half a dozen specs this time of year to be ready for the “season” are gone for now! Drive around East Dallas, M Streets, Lakewood, Lakewood Heights, etc. and see how little new home inventory is out there!
Sounds good. Who needs new home inventory? It would be nice if banks would intentionally lend to existing home reinvestment over new homes. One can only dream of sanity…