With so many people overpaying for Dallas-Fort Worth housing, what could possibly go wrong?
More than 30% of North Texas homes are selling for more than the asking price, with buyers sometimes forking over $100,000 or more than what the houses are listed for.
That has landed the Dallas area on a list of cities “prone to a market downturn,” according to a new report by Florida researchers.
“Home prices are escalating quickly in Dallas and a handful of other U.S. cities where consumers would be better off financially by renting and reinvesting the money they would otherwise have spent on homeownership,” the study by professors at Florida Atlantic University and Florida International University says.
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