Hispanics showing biggest home ownership gains
DFW: Biggest home price gains in the U.S. in the last decade have been in Texas, according to Attom Data Solutions in the Dallas Morning News. DFW home prices have leaped 72% above where they were before the Great Recession. Austin prices are 77% higher, San Antonio 58% and Houston median costs are up 54%. About a quarter of U.S. home purchases in the second quarter were all cash deals.
McKinney: An 80-acre community in McKinney near Virginia Parkway and Hardin Boulevard will have 390 homes combining houses, casitas, apartments and memory care residences. Designed for residents 50 and older, the project will include eateries, a lakeside pavilion, swimming pool, a lawn for concerts and nature walks.
DFW: The four-acre site at Cedar Springs Road and Routh Street will be redeveloped with an 18-story office tower, a 22-story residential high-rise, a luxury hotel and retail space, reports the Dallas Morning News. The office tower will be on Cedar Springs at Routh with the residential east across from the Quadrangle. The hotel will be on the corner of Cedar Springs and Fairmount. Parking will be underground.
DFW: CoStar data shows DFW, Austin and Houston accounted for 24% of the nation’s new office construction during the decade from 2009. Roughly 7 million-square feet of office space is under construction in DFW, with 4.7 million-square feet to be delivered in the second half of 2019. Cushman and Wakefield research forecasts office jobs will increase 1.5% to 2% on a year-to-year basis for the next ten years.
DFW: Almost 170,000 people worked in tech jobs in DFW in 2018, up 16% since 2013, according to the Dallas Morning News. CBRE says tech tenants are among the fastest-growing segments of the area’s office market, with 22,000 tech jobs added last year. DFW had the largest increase in the U.S. in its 20+ population, up almost 15% since 2012, moving to Dallas to fill the 100,000 new jobs created annually. DFW is also one the country’s top markets for awarding new tech sector college degrees.
London: Fifth Wall Ventures capital firm, based in Los Angeles, completed a new $500+ million fund from more than 50 investors in 11 countries to specialize in real estate technology companies. The firm’s investments include a software company, VTS, Lime scooter and bike company, OpenDoor ibuyer company, coworking company Industrious and storage company Clutter.
NYC: Hispanics are showing the biggest homeownership gains of any ethnic group in the U.S., according to the Wall Street Journal. Home ownership for the group has risen 3.3% since 2015, using U.S. Census Bureau data. The home ownership rate bottomed in 2016 and has grown nationally 1.3% since then. While Hispanics comprise 18% of the nation’s population, they accounted for nearly 63% of new U.S. home ownership gains in the past decade, according to the National Association of Hispanic Real Estate Professionals. Their homeownership has risen alongside gains in income, education and familiarity with the mortgage market. NAHREP says the median age in the Hispanic community is just under 29, compared to the U.S. median 38. First-time homebuyers in the U.S. have traditionally been in their early 30s. Hispanics took out 9.4% of U.S. mortgages last year, versus 5.8% in 2010.