If you’re having trouble finding a house, blame it on Toyota — and State Farm Insurance, Boeing, Kubota Tractor, McKesson Corp. and dozens more corporations moving tens of thousands of workers to North Texas. Each year, more than 60,000 people come to the Dallas-Fort Worth area to fill thousands of jobs; Toyota alone is bringing almost 4,000. That’s made the D-FW area one of the hottest home markets in the country, driving up prices to unheard of levels. The strong demand for housing has also created one of the biggest home shortages in decades. It’s a tough time to buy, both for the people moving here and longtime residents. While North Texas residents are gasping over the run-up in prices, buyers relocating from the West Coast and the Northeast think the area is a bargain, agents and analysts say.
“With most of California and the bigger East Coast cities, their median prices are well above ours,” said Ted Wilson, a principal with Dallas-based Residential Strategies. “They come here and can afford it and put money in their pocket. “Toyota captures the headlines, and some of their people are coming here with big equities from California.”
- Dallas Morning News, May 14, 2017