DALLAS — The City of Dallas may be in talks to implement some restrictions on real estate investors in the DFW area after many residents have complained of an alleged “exploitation” of home sales.
Recently, Dallas received accolades for its fast-growing real estate market, joining the likes of Los Angeles, Chicago and New York City. But is it really such a good thing?
According to a Fox 4 report, “Median home prices in North Texas jumped 22% year over year in March.”
Home buyers are finding it harder to afford the rise in prices, some even being priced out of the market by investors, and high mortgage rates don’t help. Sure, it generates more revenue in the city, but if the cost of living is skyrocketing, who will be left to afford the stay?
That’s why the City of Dallas is considering putting a cap on how many properties real estate investors can buy, according to reports from multiple news outlets.
In a Reddit thread, many users relayed…