Elon Musk moves Tesla to Texas in Silicon Valley snub

I heard people are buying homes in DEL VALLE!
lol

 

Yup. The influx of tech is a curse. And no one outside of Austin or the West Coast understands it. This didn't start with Tesla. This has been going on for a while but the almost religious worship of these companies is pretty crazy. These types of companies are not a net positive. Sure you get some great jobs but it comes at a huge cost.

I feel terrible for long time residents of Austin that are now being priced out of their own city. And there is no bold urban planning to tackle this head on so this problem will just accelerate.

 

Ya man. That's likely the next place to get heavily renovated by the city like Riverside and the area around Dell Children's Hospital to get gentrified. Great if you're in IT or some other field that pays but it sucks if you're poor in Austin and have grown up here all your life.

 

It's not Elon's fault. This is not suddenly all the Tesla employees did this, it's been going on for ALONG TIME brother
the pandemic forced the exodus of the Californians , believe or not, there are people here who DON'T BELIEVE THIS IS TRUE
But if aren't trying to find a parking spot at HEB with all the Cali plates or notice that the F-150s got replaced by R8s you just aren't informed

Don't blame Elon for the flood, he just built the Ark

 

That's a positive... just saying.

 

Eh, I agree he's not the sole driving force but to say he's innocent in all this isn't completely truthful either. I just remember growing up in Austin when it was still considered a moderately sized college town to now this. I miss old Austin tbh. I honestly don't view his move as making Austin better or the state of Texas better for that matter.

To make myself clear though, I'm all for the tech progress to making space mining and travel a commercial industry. It just sucks to see people from here be impacted by it is all. But I imagine when it comes to any progress, some people inevitably will be negatively impacted by it.

 

you can also blame SXSW and ACL. Especially SXSW when they mix tech and music and movies, that's basically all of California, New York and London coming to Austin . People realizing it's way cheaper and they aren't going to get robbed or murdered.

Remember it was easy to get into that free Rachel Ray event.

 

if you think about it, we can blame whats happening in austin on covid...more people can work from home now so they're moving from all over the country to austin. its still cheap compared to the bay area or NYC. the job growth, especially in the tech sector has been going on for awhile, but now we have all these companies relocating here.

elon gets all the attention, but he is just a small slice of the pie when it comes to job growth in austin. tesla will (only) employ 5,000 when it's up and running. and these arent going to be condo-dwelling "tech bros" taking those jobs. its skilled blue collar workers who will probably live in del valle or bastrop. starting pay is going to be $35,000.

apple will soon have 15,000 employees. google is building a 35 story office building right on town lake that they will fully occupy by 2023. that should take them up to around 10,000.

future google building...

 

theres a radio show in austin called the real estate zone that has been on klbj for years. they have a podcast too that yall should check out if you live in austin or are just interested in this kind of stuff.

https://austinrealestatedaily.com/r...real-estate-zone-radio-show-012621-broadcast/

the last episode i listened to predicted that home values will increase 20% in the next 60 days due to severe lack of supply. not only on the resale side, but the new home side too...many builders are out of inventory, out of lots and have year long wait lists. and lumber went up 100% last year and 25% just in january. circle c ranch has 4500 homes, but only one active listing. its insane!

 

KABOOOM!

Good ****, tinman.

 

Longtime Austinite, Sold my house in Pville back in June and bought a House in Leander, nearly in Liberty Hill were we tried to move but couldn't get what we wanted. Close on the new house tomorrow. Broker told me she could get us $200k over what we paid if we didnt move in, but where the hell are we going to go.. Builder even told me today we got in at the right time that the same floor plan is 130K more than we paid earlier this summer, they have no more lots currently. The market is insane, hearing 70-100 offers on first day of a listing is now typical with 100K over asking. Only two currently listings for sale in 78641

In the early 90s I almost bought a condo on Lake Austin off Riverside drive for 35K decided I wanted to travel some more and I would grab one like it when I came back. 4 years later the same property was almost 400k with all of the improvements in that area its a million + property now. Locals are getting pushed out, even Taylor, Jerrell and Throndale properties are getting gobbled up lighting fast.

 

This has absolutely nothing to do with Boca Chica beach.

I liked the old 25 years ago shitty houses on Rainey, personally.

 

Its not just Tesla, there is a whole slew of businesses moving here as mentioned above, the majority don't make the news and the new Apple Campus has caused a stampede as well. I definitely miss the Austin of the 80s and 90s Used to ride my bike with friends down 620 to the Oasis to Cliff dive and to various Rock Queries until we got our coveted license. Lived in a run down house behind Continental Club for years, I remember getting off work at 7am in the morning and hitting the 7/11 for beer as the prostitutes walked like zombies amongst the school kids waiting for the bus. Cops only ever messed with me for buying beer so early until I explained I worked the night shift a few times. Was some crazy times, but nothing like riding a bike 10 minutes to Auditorium shores with a bucket of chicken and beer for free concerts on Weds evenings and a cheap cab ride home from 6th

I avoid downtown completely and only travel into Austin when absolutely no other way around it, which is typically to Dripping Springs for kids baseball.

 

This is going to be the new Landry's headquarters on Town Lake also.

 

This lack of supply is pretty much in a lot of places around Texas. I live in a city with just over 200,000 people (listed as the fastest-growing "large" city over the last decade) and according to the mayor there are 60 listings under $1,000,000 and 6 days inventory. It's a seller's market. He said buyers are trying to buy properties before they even hit the market and is suggesting not to do that, and to list the house because buyers are going crazy by offering easily 10% over asking as well as other throw-ins. He was saying some of it is because of COVID because people don't want to list their property in the middle of the pandemic. Another aspect is all the relocation from out-of-state. Tons of people are moving in, but not a lot are moving out. Builders also have a wait-list for building, so no spec homes are being built for them to throw out there to satisfy some of the demand because they're trying to keep up with existing demand/wait lists. This means other people are saying "I'm not going to put my house on the market if I can't be guaranteed of finding another house". This is all coming together to jack up housing prices around the DFW area, too.

 

Oh I get it. It was talking about real estate not happy fun time.

I miss the old south austin, but east austin is better than it used to be.

 

Shouldn't McConaughey or Spicoli be on the board?

 

Is his package that big up close in real life @tinman? Lulz!

 

Yo there’s no crap houses on Rainey street anymore. The home owners got a kings ransom for that land so they can build some lux condos and trendy bars