Austin Terrafactory Downside: Local Real Estate

[CyberGus]

It's being reported that some Tesla employees are planning to relocate to the Austin area for the new factory, and are already looking for homes:

Tesla employees heading to Austin for the upcoming Cybertruck factory are in for a red-hot real estate market

However, Covid and the recession have done little to ease real estate prices here.

That said, it's still cheaper than San Francisco, lol

 

[Xenoilphobe]

Not sure they are too worried about than when the COL is 49% lower..

 

[glide]

Coming from the Bay Area, no one will blink an eye.

Locals should prepare for the squeeze.

 

[CyberGus]

Coming from the Bay Area, no one will blink an eye.

Locals should prepare for the squeeze.

We've been taking California refugees since the 90's

 

[Blue Skye]

I'm more concerned for the effect it may have on the Austin real estate market for locals. I live in Oregon and the influx of Californians has really bumped up property values. Can make it tough for first time home buyers.

 

[CyberGus]

I'm more concerned for the effect it may have on the Austin real estate market for locals. I live in Oregon and the influx of Californians has really bumped up property values. Can make it tough for first time home buyers.

The Tesla factory will certainly raise values in that vicinity, but probably won't have much effect on the larger metro market.

 

[strider]

Should have built in Tulsa Cost of labor is lower too.

 

[El joe]

Not sure they are too worried about than when the COL is 49% lower..

View attachment 579571

Having moved the Bay Area from Los Angeles, it’s insane how much it costs to live here. I had to move 90 miles East and commute just to make ends meet. Can’t wait to make that commute in the CT instead of my Bolt!

 

[CyberGus]

View media item 121722
Tulsa: 17% less expensive
Austin: 100% more awesome

 

[empiredown]

FIFY:

View media item 121722
Tulsa: 17% less expensive
Surrounding Austin Area: 100% more awesome

SS

 

[AnnieCos990]

View media item 121722
Tulsa: 17% less expensive
Austin: 100% more awesome

 

[mark95476]

The same thing happened in and around Reno.