Companies Relocating to Austin, Houston
Texas is open for business, who’s excited about that meeting? Tesla‘s coming to Texas, Oracle, EHP. That’s impressive. That’s a lot of people that are leaving other states for very specific reasons. So let’s hit from the top why these companies would be leaving, where they’re relocating to and what it could possibly mean for us here as real estate brokers and residents of the state of Texas.
OK, so I guess the first thing that we were saying is why are they moving? All right. So item number one is they’re probably moving for political reasons, for tax reasons and for better working conditions and people living in places that they truly enjoy. And our state has relaxed rules as far as business goes and not imposing upon them things that are challenges.
That make it difficult to do business, but probably most important taxes. Yes. So that’s like a huge, huge reason why and what cities are they moving to? So Tesla will start with that one is moving their headquarters to Austin and it was announced that Elon actually has now has a Texas driver’s license.
I was looking for Elon to come and take a look at our Lucas property, but you haven’t been able to reach him yet. Know that hasn’t taken place yet. Get on that. I know I do have several of his products, but I haven’t got them. Yeah. Up to Lucas property yet. We are pretty tight, but that still has not taken place. So there you go. Tesla is moving to Austin now.
Texas Open for Business – Austin
Austin, really nice place, right? It’s one of the top places that I would consider relocating to if they were able to get rid of that whole problem they have downtown. Yeah, that’s my problem. It’s just a total nightmare. And they just have an interesting atmosphere. So if you’re moving from California to Texas, Austin is a good place to kind of south. Right.
It it’s a little more congested than we experience around here. But they do have some nice suburban areas that are beautiful. We have friends that live there and we visit sometimes.
No, it’s really nice. They do have the Hill country. They do have a whole weird type vibe that they totally capitalize on. And it’s for a very specific reason. And so, you know, I think test is going to really enjoy being there for a lot of reasons. And I think that the state of Texas is going to really enjoy it. Yeah. Having them here as well.
And there’s something to it, you guys. I mean, the PGA is coming here, you know, the PGA, it’s so hot here and they’re coming here from Florida. I mean, I don’t know. There’s something to it.
Yes, there is. And HP moving to Houston. OK, so they formerly were HP and if you like, track their lineage back, they were kind of that original Ross Perot company that was here. And then it became État, which was EDC, and that separated and became HP and HP became HP with a certain part of it. And then I think it went to California when I think that the female CEO took over.
I can’t remember her exact name. I’m missing that they she moved out to California based to a couple of very, very large presence here locally in the old building. And since then, they’ve kind of don’t have as many people there. They kind of sent people home. And that was a pre covid thing. They just kind of dispersed. People are like, we don’t have to all be in the office. Let’s do one of those things and that.
So they did that and then afterwards. So then they were out and, you know, in California for their headquarters. But then they just recently decided to make that big move and move them to Houston. So they decided humidity was the thing that they wanted when they were looking for a place to relocate to. So they found the most humid place on the planet and decided to move there.
So happy sweating to you and enjoy yourselves in Houston. But we are happy to have you here. And I’m back with HP and then Oracle. I think Lee is a senior president, there is one of our friends and we like them is his honor. I think he’s on the board of directors now. I’m not positive. I do know he has two or three patents with Oracle, so he’s kind of a big deal. But they are moving officially to Austin, just outside and man.
Other companies relocating to Texas
Yeah, well, Austin’s killin it. Yeah. So it’s also going to be very, very busy down there. Austin also has a world headquarters for Zoho. So if you happen to the U.S. headquarters and the Texas Real Estate Commission.
Anyways, that’s that’s some really good news for the state of Texas. And so what does that mean to residents of Texas? So from the resident standpoint, that means a lot more people, a lot more people moving here. So we’ve already had a lot of people here, but it should be good.
Well, high paying jobs that are relocated here. And when those jobs come, it means that there will be more people coming in, but not necessarily more people moving out. So there will be more houses that need to be either built. It’s just kind of a supply demand thing, right. So we’re going to have more demand and no more supply necessarily. So they’re going to have to continue to expand.
And I think something we learned when Toyota relocated to Texas is, you know, we did have a lot of people relocate here from from other states, but we also had a lot of people within our state, within our area move. So I think that’s something that, you know, maybe we could see some more listings if people are having to relocate to Austin or Houston or, you know, so forth, or people might be buying second homes, moving other family to this area. So just something to keep an eye out for.
When these big moves take place, there’s a lot of secondary things that go on. So there’s a lot of support businesses. It’s incredible when you look at some of these that there’s like all these consulting companies that support them and they have to be located in those specific areas that are close to them. So just like if you’re looking at a simple thing and these aren’t necessarily manufacturing, but there’s like all the component manufacturers that are there, there’s all the attorneys that are needed for to support that company.
There’s the advertising, there’s the marketing. There’s like all these support things that go along with it. So when you land one of these, you’re landing like ten of these right. Ancillaries end up supporting that. And that’s kind of a huge deal. So that’s all what comes as well. And that essentially means more people, higher prices going for the homes. And a lot more new homes.
But when I started seeing new homes, it’s an interesting trend for the consumer, for the average person that owns a home is when all of a sudden you have these big booms and there’s a ton of new construction that goes on. What happens is that new construction is built in a very new specific way. OK, and so I’ve talked at length about this, and you can see any one of the other videos that I’ve talked about, what the trends I see coming in residential real estate and new construction, specifically how Covid is impacted us quite a bit.
And now we’re going to see like two home offices all the time. We’re going to see multiple places for kids to be able to home, home, school. If those things happen, just kind of like larger spaces is what people are looking for, larger lots. And then, of course, they’ll be the standard things inside that there can be different colors and trends and things like, you know, courts.
Look, whatever Amstrad talked about that yesterday, how people are ripping out their beautiful granite for sports, you know, so then what you have is this whole thing where people have a whole new home trend and all of a sudden the existing homes, if there’s tons of these that are getting built all at one time, they’ll all be very similar. And then when there’s enough of them on the market, then the current home looks dramatically different. And it’s like all we need to update.
That’s all we need to move. And it forces a lot of activity to really go on. When things happened. It forces trends to change within residential real estate. So what it all means is more business for you if you are an agent. So stay active, stay stay on top of your stay on top of your game and be ready to accept all these new referrals that will be coming in and say thank you.
Yes. Because you know who else is open for business? Who we are opposed to real estate. So get ready.
Very good. Cheers and congratulations. And thank you guys for coming. So thanks to Tesla, thanks to TNT and thanks to Oracle. Congratulations to Austin, Austin and Houston.