Population Growth for OKC

[Bunty]

Someone please tell me why Edmond is building houses about everywhere. Every time I have asked, I've been told people moving from else where

Edmond is one of the most highly desirable suburbs in Oklahoma to live in.

[shavethewhales]

Someone please tell me why Edmond is building houses about everywhere. Every time I have asked, I've been told people moving from else where

Edmond has good schools, nice amenities, is safe, high incomes in the area, not too close to the city center but not too far away, etc. If you like suburban living Edmond is pretty good. Similar things could be said about the other suburbs though and they are obviously all still exploding.

We're only held back by material and labor still. Mortgage rate increases have slowed things down nationally, but not locally in OK so much that I can see. I've got a neighborhood project in the Tulsa area where a national company is trying to come in and buy up everything they can get their hands on, and we aren't even finalized the site yet.

[TheTravellers]

...I've got a neighborhood project in the Tulsa area where a national company is trying to come in and buy up everything they can get their hands on, and we aren't even finalized the site yet.

Out-of-state corporations are flooding Oklahoma housing market

[PoliSciGuy]

Someone please tell me why Edmond is building houses about everywhere. Every time I have asked, I've been told people moving from else where

One of the cheapest places in the country to live in if you want high quality schools, amenities of a suburb that is very close to a growing urban core and a safe place to grow a family. Same thing for Deer Creek.

[Ryan]

Out-of-state corporations are flooding Oklahoma housing market

We have very business freindly laws that allow this. These companies buy everything they can and turn them into rental properties. They overbid okies. Then the okies have no where to go except rent. Im sure one of these fine investment companies will be happy to rent what would be a 1100 mortgage home to us for $16-$1700 a month. This is verh common in my neighborhood. The house cost $129 5 years ago. This price point is especially especially competitive. I wonder how its all going to work out in about 2 years

[fromdust]

out-of-state corporations are flooding oklahoma housing market

blackrock

[soonerguru]

Disturbing. There should be laws. There won't be.

[chssooner]

Disturbing. There should be laws. There won't be.

Most states don't have a single law against this.

[scottk]

One of the cheapest places in the country to live in if you want high quality schools, amenities of a suburb that is very close to a growing urban core and a safe place to grow a family. Same thing for Deer Creek.

With the growth, Deer Creek Schools are over capacity in every single classroom in their district if these numbers are correct:

Deer Creek has a capacity of 5817 students for the district, and currently has 7245 students enrolled. I imagine this just gets larger as more houses and built. Not sure what you do with 1400+ extra students and more on the way?

https://www.deercreekschools.org/stu...ransfer_portal

[baralheia]

With the growth, Deer Creek Schools are over capacity in every single classroom in their district if these numbers are correct:

Deer Creek has a capacity of 5817 students for the district, and currently has 7245 students enrolled. I imagine this just gets larger as more houses and built. Not sure what you do with 1400+ extra students and more on the way?

https://www.deercreekschools.org/stu...ransfer_portal

Man that is nuts how much they've grown. I graduated from DCHS in 2003 and we only had like 1900 students for the entire district back then - around 150 in my graduating class, if memory serves.

[Bunty]

We have very business freindly laws that allow this. These companies buy everything they can and turn them into rental properties. They overbid okies. Then the okies have no where to go except rent. Im sure one of these fine investment companies will be happy to rent what would be a 1100 mortgage home to us for $16-$1700 a month. This is verh common in my neighborhood. The house cost $129 5 years ago. This price point is especially especially competitive. I wonder how its all going to work out in about 2 years

Hopefully, that problem isn't too hard to bypass by people getting with contractors to build their own new houses. I wonder if there are already more new houses being built than old ones for sale.

[Ryan]

Hopefully, that problem isn't too hard to bypass by people getting with contractors to build their own new houses. I wonder if there are already more new houses being built than old ones for sale.

The problem is it takes months and months to throw up a new construction and people really don’t have that.
Kind of time. That’s what makes this such a sound investment that out of state businesses are jumping in. It’s can’t lose project. The housing/subprime crash in 2007-2008 really scare a lot of builders. New builds essentially stopped. It’ll take years to catch up. Meanwhile people who do actually win the bidding wars and buy houses could end up being upside down on properties they purchased for 10-50k over appraisal. .

[OKCRealtor]

Meanwhile people who do actually win the bidding wars and buy houses could end up being upside down on properties they purchased for 10-50k over appraisal. .

That's not going to happen, prices are not likely to come down here. Virtually all sellers have a good chunk of equity at this point even if they've just bought in the last few months.

There's a good Dave Ramsey clip from earlier this month about why the next 6 months are the best time to buy/sell for next few years. A recession might prove to even be beneficial for OKC metro- we'll see.

[BoulderSooner]

That's not going to happen, prices are not likely to come down here. Virtually all sellers have a good chunk of equity at this point even if they've just bought in the last few months.

There's a good Dave Ramsey clip from earlier this month about why the next 6 months are the best time to buy/sell for next few years. A recession might prove to even be beneficial for OKC metro- we'll see.

depending on home value prices will likely come down in the next year

[Pete]

We have very business freindly laws that allow this. These companies buy everything they can and turn them into rental properties. They overbid okies. Then the okies have no where to go except rent. Im sure one of these fine investment companies will be happy to rent what would be a 1100 mortgage home to us for $16-$1700 a month. This is verh common in my neighborhood. The house cost $129 5 years ago. This price point is especially especially competitive. I wonder how its all going to work out in about 2 years

Welcome to the real world, Oklahoma.

Bidding wars and scarcity of high-quality housing have been the norm in most major metro areas for decades.

All that is happening is that property in the area is still below national averages and generally undervalued, so it's being snapped up.


It's absolutely not true that it leaves locals with nothing other than rental options. There are still thousands of low-priced homes. Start small, put in some sweat equity and build your way up. You know, the same way everyone else has done it for the last 100 years.

[LocoAko]

Welcome to the real world, Oklahoma.

Bidding wars and scarcity of high-quality housing have been the norm in most major metro areas for decades.

All that is happening is that property in the area is still below national averages and generally undervalued, so it's being snapped up.


It's absolutely not true that it leaves locals with nothing other than rental options. There are still thousands of low-priced homes. Start small, put in some sweat equity and build your way up. You know, the same way everyone else has done it for the last 100 years.

Yeah. I saw someone on Reddit a few months ago claim you can no longer get anything "nice" here for under 300K which I found to be a ridiculous assertion. I guess it depends on your standards, but my renovated historical home in the core was even below that price and there are plenty of other options. It's definitely changed from just a few years ago (as it has everywhere), but we are still well below the state of the market in most other areas, as you said.

[Zuplar]

Yeah there is absolutely money to be made on real estate, it's just less likely to be in the highly desired areas. You used to be able to get good deals anywhere, but that's always been low hanging fruit.

[Pete]

If you are over 30 and have not bought a home in the OKC area with our crazy low prices and microscopic interest rates, that's all on you.

If you're under 30, a well-located home that doesn't need work is not your birthright. You buy a small house and/or one needing work and build up equity over time.

This is exactly what I did, what my parents did and just about everyone else I know. Now, you get all these young people watching HGTV and Instagram feeds and feel entitled to a completely finished dream home as a first-time buyer.


There is a great, 4-bed 2-bath house right around the corner from me on a very nice street in a great location with a big fenced-in backyard.

It could use some updating but you could move in today and live quite well, and then slowly make the changes you'd like and probably never outgrow it.

It's $245K and has been on the market for a couple of weeks without an offer. If I didn't already love my house, I'd buy it in a heartbeat, clean up the front landscaping, do some painting, replace the Formica countertops and then over time start work on the bathrooms and other things. You could open up the living/dining/kitchen (as I did with my house) and have a great modern floorplan in a close-in established neighborhood.

https://www.realtor.com/realestatean...2_M84640-23250

[catch22]

I purchased a home in one of the most expensive markets in the country, in Colorado, when I was 25. I left my dogs with my mom in Oklahoma, and slept in a van in the employee parking lot for 3 months and worked 16-hour days for 3 months straight. . I showered at the gym and ate my dinner in the break room at work. It was miserable but also very rewarding walking out of the title office with keys in hand to my own slice of Colorado. It’s not a mansion but it’s my home. Went back to Oklahoma as soon as I could to bring my dogs back to their new home.

It takes work and determination. Nothing is free and sometimes you have to go out and create your own destiny.

[Ginkasa]

If you are over 30 and have not bought a home in the OKC area with our crazy low home prices and microscopic interest rates, that's all on you.

If you're under 30, a well-located home that doesn't need work is not your birthright. You buy a small house and/or one needing work and build up equity over time.

This is exactly what I did, what my parents did and just about everyone else I know. Now, you get all these young people watching HGTV and Instagram feeds and feel entitled to a completely finished dream home as a first-time buyer.


There is a great, 4-bed 2-bath house right around the corner from me on a very nice street in a great location with a big fenced-in backyard.

It could use some updating but you could move in today and live quite well, and then slowly make the changes you'd like and probably never outgrow it.

It's $245K and has been on the market for a couple of weeks without an offer. If I didn't already love my house, I'd buy it in a heartbeat, clean up the front landscaping, do some painting, replace the Formica countertops and then over time start work on the bathrooms and other things. You could open up the living/dining/kitchen (as I did with my house) and have a great modern floorplan in a close-in established neighborhood.

https://www.realtor.com/realestatean...2_M84640-23250

That house looks like it smells like cigarettes smoke, lol.

Seriously, though, we probably would have looked at that house if it were on the market a couple of months ago. Happier, I think, where we ended up comparatively though.

[FighttheGoodFight]

I think there is a subset of the population that is going to rent until their parents die then take over that home. I think I have seen about four people do this in my neighborhood alone.

[shartel_ave]

If you are over 30 and have not bought a home in the OKC area with our crazy low prices and microscopic interest rates, that's all on you.

If you're under 30, a well-located home that doesn't need work is not your birthright. You buy a small house and/or one needing work and build up equity over time.

This is exactly what I did, what my parents did and just about everyone else I know. Now, you get all these young people watching HGTV and Instagram feeds and feel entitled to a completely finished dream home as a first-time buyer.


There is a great, 4-bed 2-bath house right around the corner from me on a very nice street in a great location with a big fenced-in backyard.

It could use some updating but you could move in today and live quite well, and then slowly make the changes you'd like and probably never outgrow it.

It's $245K and has been on the market for a couple of weeks without an offer. If I didn't already love my house, I'd buy it in a heartbeat, clean up the front landscaping, do some painting, replace the Formica countertops and then over time start work on the bathrooms and other things. You could open up the living/dining/kitchen (as I did with my house) and have a great modern floorplan in a close-in established neighborhood.

https://www.realtor.com/realestatean...2_M84640-23250

1/3rd of the US population (52 million) make less than 15 an hour.

that house is almost a 1/4 of million dollars and 55 years old! To think that is affordable to most americans is not reality.

[dcsooner]

Welcome to the real world, Oklahoma.

Bidding wars and scarcity of high-quality housing have been the norm in most major metro areas for decades.

All that is happening is that property in the area is still below national averages and generally undervalued, so it's being snapped up.


It's absolutely not true that it leaves locals with nothing other than rental options. There are still thousands of low-priced homes. Start small, put in some sweat equity and build your way up. You know, the same way everyone else has done it for the last 100 years.

+1

[shartel_ave]

reality

https://inequality.org/facts/income-inequality/

[Pete]

1/3rd of the US population (52 million) make less than 15 an hour.

that house is almost a 1/4 of million dollars and 55 years old! To think that is affordable to most americans is not reality.

My point was a very nice home in OKC is still reasonable by any comparative measure and there are plenty of much cheaper houses in the area.

My house is the same age and is awesome after I put some sweat equity into it. The idea that a 50 year-old home is somehow not acceptable proves my previous points about unrealistic expectations.