How trend of tearing down old homes to build new ones is impacting property values in North Texas

It's a trend in communities across North Texas.

[@justdoingitjim7095]

This has been happening for decades, because sometimes renovating your home doesn't increase it's value. I did remodeling in the DFW area all my life and I saw it happening both ways. But, the property taxes always went up regardless, because the city leaders love spending YOUR money on their pet projects!

[@bonniebluebonnet]

It'd be a great way for a wealthy company to "reset" a neighborhood. If they just buy and tear down the older homes, and then build new larger and fancier homes, and maybe even build them on "estates" (made of multiple lots) to accommodate the out-buildings for their RVs and boats, it would run out anyone who couldn't pay the higher property taxes.
My 2024 tax statement said that my home (bought in 2003) has increased in market value by more than 77% since 2019, although no improvements have been made, not even fresh paint.
I'm retired and on a fixed income. It'd be nice if my "fixed income" had increased by more than 77% since 2019.

[@davidtrejo7509]

Scary for mr j Willey Price? I doubt it

[@tbenson5966]

There’s a huge push in Michigan to eliminate property taxes

[@kylehines3185]

🤔 So if the expensive house wasn't there then the whole neighborhood would save big money??? 😲

[@britw2887]

Does he have a bbl???? 😮😂

[@LD__]

🙃

[@Pleasemison]

Wtf is that realtor. I cant watch

[@davidtrejo7509]

Was thinking the same 😂

[@doglegjake6788]

That relator is creepy looking.

[@nathanrodela8356]

Its the best realtor and he is actually a really amazing human being