$2B mixed-use development near DFW Airport receives zoning approval

☀️ Rise and shine! Thanks for joining us this Tuesday.

Today's newsletter is 556 words — a 2.5-minute read.

1. NAR's spending habits exposed

According to a New York Times investigation, executives and top leaders at the nation’s largest trade group, NAR, secured an array of lavish perks after assuming their roles, including Broadway tickets, first-class flights, and extravagant dinners featuring $300 bottles of wine.

The report, based on interviews with employees along with tax documents and internal records, details a pattern of what experts described as excessive spending that has long raised eyebrows among nonprofit watchdogs.

2. $2B mixed-use development near DFW Airport receives zoning approval

River Central, a planned $2 billion mixed-use development near DFW Airport, is moving forward after the Fort Worth City Council unanimously approved rezoning nearly 57 acres on State Highway 360 in eastern Fort Worth from agricultural to high-density mixed-use.

At full build-out, the site could be home to 3,680 luxury apartments, 530 townhomes, 100 condominiums, 630,000 square feet of retail and entertainment, 600,000 square feet of office space, 710 hotel rooms, and 50 acres of open space.

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3. Catch up quick

🤔 An affordable housing loophole made millions for the 'invisible governments' of Texas. (HoustonChronicle)

🔄 Zillow President Susan Daimler steps down, Jun Choo becomes COO. (MarketWatch)

🏡 Representative Spiller seeks to stop foreign entities from Texas land ownership. (Yahoo)

➡️ ‘Sell or get pushed out,’ government tells some Texas landowners. (kxan)

⚖️ Austin real estate developer Nate Paul behind bars for contempt of court. (FOX7)

📈 Homebuilder confidence at 7-month high in November. (Reuters)

🎶 Fun read: People are listening to Christmas music earlier this year. (Axios)

4. Texas cities top the rankings for the best cities for young adults

MoneyGeek recently identified the best cities for young adults under 25 based on factors such as young adult income, homeownership rates, population, student loan burden, and access to food and entertainment.

Here are the top 5 largest metros (along with their annual median household income) that MoneyGeek identified best of young adults:

1. Phoenix, Arizona - $53,484

2. Austin, Texas - $42,158

3. Dallas, Texas - $34,074

4. San Antonio, Texas - $40,003

5. Houston, Texas - $37,165

5. Charted: Most people earning under $50,000 struggle to afford housing

Redfin's latest commissioned survey, which includes responses from over 1,800 homeowners and renters, reveals that nearly three-quarters (74%) of U.S. residents earning less than $50,000 annually sometimes, regularly, or greatly struggle to afford their mortgage or rent payments.

Nearly one-quarter (24%) of those people report skipping meals to afford their monthly housing costs.

Here is a deeper look at the breakdown of the figures:

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