3 Things: The Wealth Wave Podcast, Fort Worth Surges Ahead in DFW's Population Boom, Interest Rates Dip
3 Things: The Wealth Wave Podcast, Fort Worth Surges Ahead in DFW's Population Boom, Interest Rates Dip
"A journey of a thousand miles begins with a single step" - Lao Tzu
NOVEMBER EDITION
01 The Wealth Wave Podcast: Episode 1
We are excited to announce the launch of The Wealth Wave Podcast and the release of
Episode 1 – where we turn the tide on conventional wisdom and dive deep into the realms of
economy, real estate, and technology.
Our podcast will feature insights from industry titans, success stories that’ll fuel your ambition,
and diverse perspectives from professionals who’ve conquered their domains. Our rotating
participants, including friends and respected individuals, add the spice to our conversations,
covering everything from the economy to cutting-edge technology.
Get ready to be well-informed, entertained, and inspired, all in one go! The Wealth Wave
Podcast – where we challenge the times, feed your mind, and redefine the narrative on
investments, market insights, and real estate strategies.
Subscribe to our Youtube channel and Instagram page and listen to our very first episode as we
break down the hottest topics in business, tech, and real estate, serving up a cocktail of
knowledge, inspiration, and entertainment.
02 Riding the Wave: Fort Worth Surges Ahead in DFW's Population Boom
The Dallas-Fort Worth (DFW) metropolitan area continues its unprecedented growth,
surpassing 8 million in population, with Fort Worth leading as the fastest-growing city in Texas. Between April 2020 and January 2023, Fort Worth gained the highest number of residents in the
state, totaling 48,542, contributing to its current population of 967,457. Notably, Collin County
experienced the most significant county-wide population growth, adding 125,646 new residents.
The five cities with the largest percent increase in population include Liberty Hill, Weston,
Caddo Mills, Josephine, and Fulshear. DFW’s overall population surge of 423,141 cements its
status as the state’s booming metroplex, with predictions suggesting it may become the nation’s
largest metropolitan area by 2100.
Our takeaway:
Our optimism for real estate investments in the Dallas-Fort Worth Metro area remains
unwavering, fueled by the region’s sustained and remarkable growth. Despite challenges in the
multifamily market, the long-term prospects for DFW remain exceptionally positive. Fort Worth,
in particular, stands out as a shining example of this growth, and our positive outlook on the city
continues to be affirmed. As mentioned last year, we made a strategic move by acquiring a four-
unit, brand-new multifamily property in Fort Worth in December. This decision was guided by
our confidence in the area’s expanding population and the increasing demand for housing, and
we’re pleased to report that our investment thesis holds true. The demand for our current units
validates the promising trajectory of Fort Worth’s real estate market, reinforcing our bullish
stance on the city’s investment potential.
03 Real Estate Opportunities Soar as Interest Rates Dip
Mortgage demand sees uptick amid falling interest rates. In a positive turn of events, total
mortgage application volume rose by 3% last week, signaling a shift as interest rates continue to
decline. The average contract interest rate for 30-year fixed-rate mortgages also decreased,
reaching 7.41%, the lowest in two months. Joel Kan, MBA’s deputy chief economist, attributes
this trend to lower U.S. bond yields and signs of a softer economy. Although mortgage rates are
still higher than a year ago, applications for home loan refinancing increased by 2%, showing
resilience in the market. Meanwhile, mortgage applications for home purchases also saw a 4%
weekly increase, with the average loan size dropping to $403,600, the lowest since January
2023.
Our takeaway:
The recent trend in interest rates suggests that we might have seen the peak at 8%, as rates
continue to decline while the Federal Reserve maintains a steady course. This encouraging shift
bodes well for 2024 real estate opportunities. While we remain cautiously optimistic about the
possibility of federal rate cuts in 2024, the current landscape is favorable. Despite a downward
trend in inflation rates, there’s an inclination for the Federal Reserve to keep rates stable for an
extended period. The recent trajectory of interest rates has us buzzing with excitement about
the potential opportunities in the real estate investment landscape for the upcoming year. Stay
tuned for what promises to be an exciting 2024!
Ready to invest?
As you evaluate your 2023 strategic investment plans, Real Estate is and will always be a solid asset class for investment. Jara Capital is well positioned to help anyone looking to invest some capital in the multifamily real estate sector.
Regards,
Caleb & Toyyib
Co-founders & Managing Partners
Jara Capital Partners “Delivering Extra”
