Great Tech Migration effects on Real Estate
The great tech migration and how that’s booming in our economy and how it’s really helping the real estate market. Yes. So what it’s kind of all about is Silicon Valley had a ton of stuff here, right? There’s like all this tech and it was kind of like the new age of what was going on.
You look at all the companies in the country and you look at the ones that are worth the most. And a lot of them happen to be technology based companies in some way, shape or form. And they were all out in this centralized place because and then along came this this whole thing, and it was kind of like, boom, that you just like, hit it and it went all over the place and it sprinkled and these companies are falling all over the place.
And I’m like, Wait, I don’t have to be here or wait, I can let.
People do this in a place that’s so expensive.
Yeah. So I have an article just to reference this just a little bit and we’ll pull that bad boy up. We’re going to share it with you guys and we’re going to discuss it just a little bit. But one of the big effects is it took all the salaries and it threw them like all over the place, the expensive ones. So those are chairs that Shawn likes. So that’s cool. Do you like this? The chandelier?
No, no, no. On the chandelier. All right. I totally understand that one. All right, so let’s pull down the article now that we analyze the photo and see what’s going on. It looks like that somebody’s office there, right?
Yeah, it’s a pretty cool office, but it changed the way things are going on now. The office in general, that’s the home office of somebody. Yeah. And you know, we talk about what’s going on with, you know, with homes and do you need one office or two offices or things going on there? And then the article goes on and talks about how much money is going on here.
Right. And there are certain markets that are dramatically affected by this one that we would know locally would be Austin, right? Yeah. So they have a crazy one going on.
So compacted there that kind of go outside a little bit and bam. But so now the houses are changing all over the place. Imagine that all of a sudden you have all these people with probably immense amounts of money to do things and they’re now able to locate all over the place. It’s changing places like I mean, you definitely saw that in Bozeman, that there is a lot of tech going on there and they’re trying to be like a mini Silicon Valley. You see all these things popping up all over the place.
And now there’s all these different tech firms that are opening up, not just in these traditional places. Yeah, mentioning some cities. Austin, Raleigh, Tampa, Atlanta. Right. New tech businesses. I know the city of Frisco invests heavily in tech incubators with small companies, so they’ve been doing that. I wish they would like triple down on it and just do even more of it, but it is going on and they’re bringing stuff all here. So just more and more would be even more.
But they like to be around each other for the collaboration and having other people to feed off of, for energy and for enthusiasm and for ideas, right. To see what’s going on. But all these big tech companies are being able to be moved wherever they happen to.
Want to be. Yeah. So wherever it’s, you know, false alarm, nice weather space, not necessarily being next to all the other companies, you know, they don’t need to be together.
If you looked at those big the names of those company are the names of the cities, you would see that they are all warm weather places.
You think about Raleigh, Austin, Tampa, Atlanta. They’re like rather warm weather cities compared to others.
Yeah, we’ve heard a lot about North Carolina and how it’s really booming.
And it’s just going to continue. So I think that we’re going to have that same type of thing here in our local market with these people coming in. And they will have a lot of cash and a lot of opportunities to do things. So probably want to keep some money in their stock that they most likely had.
So you have to look at these types of individuals in their stock portfolios that they have probably in just one company in general and see how to deal with that when you’re you’re looking at this.
But and I think that when we talk about how it affects real estate and we talk about right now in the cities that we can’t find homes, we you know, it’s hard to find a home that’s affordable. But if you think about it, we’re close. I mean, you go outside a little bit and some of these smaller little towns, the one company coming in like this could put them on the map and then all of a sudden, their their values skyrocket.
So, you know, I keep talking to people all the time, like change your mindset and start looking outside the you know, you don’t have to go to Frisco. Schools look just a little outside of that. Because you know it’s going to be safe and you’re going to get in at the ground level. And I think it’s a good investment.
And I think that’s our Metroplex right now. I think the Metroplex is in line to get another big company rather shortly. Austin’s won a couple of them recently, and maybe their talent pool is going to be sucked up with what they kind of have there. And I think that we’ll be in line for another big one. So if there’s any big shakeups going on, I’d look for them to land here in that in the area rather soon. If they’re choosing.
Texas, you know, we’ve got lots of great things here. We’ve got sports, the airport, international airport, lots of private airports like we’ve got a lot of appeal for.
Yeah, so look for that. And then all of a sudden for that to be another huge boom. I was talking about how I thought the boom is here to stay for for a little bit longer.
And one more of those coming to this area would really throw imagine if you had that come in all of a sudden, if you thought prices were crazy right now, imagine some huge company announced that we’re going to blank. Right, right. To this area. Toyota, you know what Toyota did?
Yeah. But if you threw one of those on top of everything that’s currently going on, how much it would really shake up? What’s currently going on there?
Episode Links
Frisco , The great tech migration, Toyota, Mike Acquisto , Shana Acquisto , TNT
