Texas cities among fastest-growing in the nation

👋 Welcome back! This week, we're diving into Texas' fastest-growing cities, the most affordable places to live, and the “We Buy Ugly Houses” Ponzi scheme.

Today's newsletter is 778 words — a 2.5-minute read.

1. Texas cities are among the fastest-growing in the nation

According to newly released data from the Census Bureau, seven of the fifteen fastest-growing cities in the U.S. are in Texas. The analysis focused on cities with populations of at least 20,000 between July 1, 2023, and July 1, 2024.

Leading the way is Princeton in Collin County, which grew from 28,336 to 37,019 residents—a 30.6% increase. Collin County is also home to three other fast-growing cities: Celina (No. 4, up 18.2% to 51,661), Anna (No. 5, up 14.6% to 31,986), and Melissa (No. 11, up 10% to 26,194).

Fulshear in Fort Bend County ranked No. 2, growing at a rate of 26.9% to reach a population of 54,629. Fate in Rockwall County (No. 8) increased its population to 27,467 with a growth rate of 11.4%, while Hutto in Williamson County (No. 13) grew by 9.4% to a population of 42,661.

2. Texas is home to the most affordable city in the nation

According to a report from Motley Fool Money, McKinney ranked highest in the nation for its estimated income-to-expense ratio. The city reported a median household income of $116,654, compared to an estimated cost of living of $75,348."

Several other Texas cities made it into the Top 10. Midland ranked fourth, with a cost of living estimated at $70,240 and a median household income of $90,699.

Austin ranked fifth, with a median household income of $91,501 and an estimated cost of living of $70,997. Plano came in sixth, with a median household income of $108,594 and a cost-of-living estimate of $84,931.

A MESSAGE FROM DAVE YOUR MORTGAGE GUY

10 Ways to use My Bridge Loan!

I’ve helped a ton of buyers close using my Bridge Loan, and I’ve done videos breaking down each win…

But now, I’ve packed all these ways into one quick video — so you can see exactly how this program can help your clients.

This is my in-house Bridge Loan — not the version other lenders are just now offering with all kinds of red tape. I’ve been using this tool for years to keep deals alive and on track.

Take a look — it might be the solution your next client needs!

3. Catch up quick

💸 Most overpriced Texas retirement towns. (GOBankingRates)

📉 Existing-home sales drop to 6-month low. (Redfin)

🏘️ "One, Big, Beautiful Bill" may impact real estate (CLA)

🤷‍♂️ Requiring buyer agreements has no effect on commissions. (Fed)

🚗 Uber is rolling out Route Share in select U.S. cities, including Dallas. (Uber)

🤖 Fun read: Chatbot promises to help you get over that ex who ghosted you. (404Media)

A MESSAGE FROM PACASO

The key to a $1.3T opportunity

A new trend in real estate is making the most expensive properties obtainable. It’s called co-ownership, and it’s revolutionizing the $1.3T vacation home market.

The company leading the trend? Pacaso. Created by the founder of Zillow, Pacaso turns underutilized luxury properties into fully-managed assets and makes them accessible to the broadest possible market.

The result? More than $1b in transactions, 2,000+ happy homeowners, and over $110m in gross profits for Pacaso.

With rapid international growth and 41% gross profit growth last year, Pacaso is ready for what’s next. They even recently reserved the Nasdaq ticker PCSO.

But the real opportunity is now, before public markets. Until 5/29, you can join leading investors like SoftBank and Maveron for just $2.80/share.

Invest in Pacaso today.

_{This is a paid advertisement for Pacaso’s Regulation A offering. Please read the offering circular at invest.pacaso.com. Reserving a ticker symbol is not a guarantee that the company will go public. Listing on the NASDAQ is subject to approvals. Under Regulation A+, a company has the ability to change its share price by up to 20%, without requalifying the offering with the SEC.}

4. Builder confidence near post-pandemic lows

Builder confidence fell sharply in May on growing uncertainties stemming from elevated interest rates, tariff concerns, building material cost uncertainty, and the cloudy economic outlook.

• However, 90% of the responses received in May were tabulated prior to the May 12 announcement that the United States and China agreed to slash tariffs for 90 days to allow trade talks to continue.

Builder confidence in the market for newly built single-family homes was 34 in May, down six points from April, according to the National Association of Home Builders (NAHB). This ties the November 2023 reading and is the lowest since the index hit 31 in December 2022.

5. HomeVestors franchisee accused of running Ponzi scheme

A prominent Dallas-based home-flipping franchisee of HomeVestors of America — known for its “We Buy Ugly Houses” ads — is being accused of operating a Ponzi scheme that defrauded investors out of tens of millions of dollars.

According to lawsuits and ProPublica interviews with alleged victims, Charles “Chas” Carrier, the owner of C&C Residential Properties, reportedly formed relationships with more than 100 investors over nearly two decades. But by 2024, many learned their investments had vanished.

Carrier allegedly issued multiple loans against the same properties — some of which he never owned — and failed to record deeds that would have secured the loans.

☀️ Thank you for starting your day with us!

If you like this newsletter, your friends may too. Forward it to a friend, and let them know they can subscribe here.

Interested in advertising to 50k+ Texas Realtors? Email [email protected]