Monday, May 27, 2024 May 27, 2024
74° F Dallas, TX



Been a while, hasn’t it? But here’s another letter written by an area magazine reader. This time, the magazine is Business 2.0, and the letter is about a November feature on “The New Rules of Real Estate”:

I know exactly why foreclosures are sky-high in the Dallas-Fort Worth area: We don’t have state income taxes, which means property taxes are really high and homeowners don’t get state mortgage deductions on April 15. I just bought a 2,000-square-foot home in North Dallas for $170,000. The property taxes alone are almost $7,000. On top of that, I just paid a $1,300 electricity bill for the summer. The cost of living around here is unreal, so I can see how local homeowners are struggling in a soft market.

Lynn Schmollinger
North Dallas, TX

Excellent points, Lynn. That electricity bill sounds like a doozy.