The Rangers Prove It: Dallas is America’s City (Right?)
The Mavs and the Rangers doing everything they can to make Dallas-Ft. Worth more than just the home of “America’s Team” — could the Metroplex be on its way to becoming “America’s City”?
The past year in sports has gotten us here at Texas Lending Today thinking: What impact, exactly, does sports effect have on cities? Is there any connection to the housing and real estate sectors? It turns out the idea has already been explored by a handful of researchers.
According to a 2001 study conducted at the University of Maryland:
An empirical examination of the determinants of real per capita income in cities with professional sports teams from 1969-1997 shows that postseason appearances are not associated with any change in the level of real per capita income in these cities. However, in the city that is home to the winning team from the Super Bowl, real per capita personal income is found to be higher by about $140, perhaps reﬂecting a link between winning the Super Bowl and the productivity of workers in cities.
Hmm. $140 isn’t much in the big economic scheme of things, but it means there is a real effect. So this got us thinking — what other impacts can sports success bring to a city?
1997 was a long time ago — would that $140 figure be higher in this sluggish economy? For example, a big part of the current recession is fueled by the fact that consumption dropped off when the economy crashed in 2008. Many families are (for good reason) paying down debts and building up savings in lieu of, say, eating out one or two extra nights per week or upgrading to a new home. Could the good feelings and holiday atmosphere generated by a big win lead to a temporary stimulus of extra spending?
Also, what kind of effect can a city have on a team’s success? For example, in a booming city, teams can theoretically charge more for tickets, have more companies willing to rent out steeply priced luxury boxes, and have a tax base willing to fund fabulous new stadiums filled with more such seats and boxes — all of which make it easy for teams to attract (and pay for) the best coaches and players. Right? Similarly, a city where players love living and want to raise their kids makes it easy for teams to lure in top talent. Right?
Despite our best Googling efforts, we couldn’t find any statistical evidence to answer any of these questions… so let’s go ahead and assume it’s all true. Pat yourself on the back: The Rangers and Mavs are winning, in part, because Dallas is a winning city.
Here’s the point: Dallas-Ft.Worth is an excellent place to live, and now is a truly exciting time to be here. Somewhere in the mathematical cosmos, the Rangers, Cowboys, and Mavs have all proved this. So if you’re considering a move to our wonderful region, contact us find a Dallas home purchase loan that’s right for you.