The Dallas housing market has been on a roll, but that roll may be growing stale. The Dallas News reports:
If you're looking to build wealth, it might be wiser to rent a home in Dallas-Fort Worth than to buy.
That's the finding of a study by economists at Florida Atlantic and Florida International universities. Their research compares two North Texas consumers starting out with the same pile of money, with one buying a home and the other renting and reinvesting in stocks and bonds over an eight-year period.
The renter would come out ahead financially, the economists concluded.
That's because Dallas-Fort Worth has the most "overheated" residential real estate market, in terms of price appreciation, among the 23 largest metro areas in the U.S., according to the economists. They don't think the region's home price growth is sustainable.