Earlier quoted context omitted.
I talked to several Tesla and former Tesla folks that will probably relocate because of this, and the say is that since Austin in less NIMBY than the Bay Area new housing will get built and prices will go down. It's a more complex bet than just "we move there because houses are affordable now".
I'm not sure why they think Austin is less NIMBY. That hasn't been my experience.
Tesla’s headquarters will move to Austin
491–500 of 691 posts
Re: Tesla’s headquarters will move to Austin
#492Earlier quoted context omitted.
I mean, I haven't lived in Austin in a decade, and I know the east side neighborhoods are becoming more desireable, but my point is that it's an isolated area. You've got 71 and MLK as your only access to central Austin, so you're extremely limited in commuting. Any further development will quickly make the current Austin traffic paradigm problematic for anyone who isn't living on the east side. 130 does make pfugerv…
I see. Still, I think that's better than living in Fremont and commuting into SF. Even with BART. I tried it a few times, that shit sucks FWIW I haven't been in Austin, just Dallas
But geographically speaking, Austin is pretty awful. I35 is basically the in/out for all of the commuters from the north and south. There are some tollroads but Austin has had trouble getting people to use them because they were so expensive. They even raised the speed limit to 85 as an incentive and still enough folks wouldn't pay the astronomical rates! Now, for people making software engineer salaries, they could afford it, but they likely won't be enough to continue investment in the needed timeframe.
Apple, Tesla, etc, so many huge names are moving to Austin and the city just wasn't built for it. They have enough room to make stuff happen, but construction takes money and political will. Austin is a blue city, but we all know money leans red, especially when it comes to increased taxes to pay for city projects. Can you imagine the amount of money that would need to be spent to imminent domain a subdivision for a new freeway? I can see the speculative investment purchases already! Hold them up in lawsuits for a few years while the housing prices get pumped to kingdom come.
Now, I live up the road in quaint little ole Dallas, so what do I know? I've watched the price of housing increase by 30% in a couple years. It's absolutely insane. Lucky for DFW, it has had more of a focus on transportation development across the entire metroplex a lot longer than Austin, so even during rush hour you can get all the way into downtown from the far suburbs in an hour. Granted, this is also made possible by an insane amount of investment in toll roads, but they've been strategically built through the wealthiest neighborhoods, forcing residents to take them just to leave home. (Obviously not required, but the city knew they had money to burn.)
DFW also has the second(?) largest airport in the US, processing an insane amount of cargo and thus we have highways to match. DFW boasts 4 professional sports teams, a major backbone of financial services, a thriving entertainment scene, and still plenty of room to expand.
DFW still lacks around public transportation, but if you are willing to pony up the cash for a place in the city, it's certainly possible to commute in a reasonable amount of time. You will absolutely need a car still for weekend activities unless you want to ride a bus for 3 hours one way.
Californian's, if you're going to move to Texas, go fill up Austin first before I buy a house next year, but then when you realize it's too crowded down there, you can come visit the state fair (going on now)!
;)
Re: Tesla’s headquarters will move to Austin
#493Earlier quoted context omitted.
It may be as NIMBY in some ways but the effects haven't kicked in yet (and probably won't given size, competition, and property tax laws). Look at the options available for a family making 80k in these two cities. They aren't even the same magnitude. https://www.trulia.com/TX/Austin/ https://www.trulia.com/CA/Palo_Alto/ Texas also doesnt have prop 13 so it is unlikely to ever reach the levels of a California city
That comparison is ridiculous, have you been to Palo Alto? It's a mansion neighborhood like Atherton. A better comparison would be with San Jose or San Mateo that are like, normal cities. Still way more expensive than Austin but it's nowhere near the price of Palo Alto or Atherton.
Re: Tesla’s headquarters will move to Austin
#494Earlier quoted context omitted.
It's a PR move to cow CA politicians to be more amenable to C-suites without challenge. It's theater. Petty, obstinate, twattish theater.
Those poor, powerless, persecuted politicians.
Re: Tesla’s headquarters will move to Austin
#495Earlier quoted context omitted.
I'm not sure why they think Austin is less NIMBY. That hasn't been my experience.
In 2019, San Francisco housing grew in total by 4,850 units, which was an increase of 81%! over 2018. By comparison, Austin permitted 8600 multi-family units in 2018 alone. That doesn't include single family detached, which averages another 2800 a year.
They’re right proper nutcase looney tunes in San Francisco, when it comes to new building. Almost as bad as they are here.
Well, that is unless you’re building high rises on the river for the millionaires and billionaires. Then you can build as many of those as you want.
Re: Tesla’s headquarters will move to Austin
#496Earlier quoted context omitted.
If they don't build housing, they will rapidly have all these problems. There's no magic here, no curse on the Bay Area and Seattle, it's all economics, though the geography of SF and Seattle don't help. From cursory Googling, it looks like Austin is beginning to upzone areas so that apartments can be built, which is a step in the right direction. From what I understand, Austin has already been struggling with afford…
Bay Area does have a curse though, it’s city council is A unique mix of evil, incompetence, and self interest.
Re: Tesla’s headquarters will move to Austin
#497Earlier quoted context omitted.
…but how does he pay back those loans?
His estate pays them back when he dies. Inherited shares have their cost basis reset to the current value, so if his heirs sell them immediately there's no capital gains to be taxed.
Re: Tesla’s headquarters will move to Austin
#498Earlier quoted context omitted.
There is no "large exodus" of people moving out of California. The number of people moving from San Francisco to Austin in a year is something like 240 households. https://www.sfchronicle.com/bayarea/article/People-are-leavi...
I simply don’t believe SFChronicle here. I live in Texas and I see plenty of California plates on the road. The realtor I work with says Californians are flooding the market with cash. They’re offering 10’s of thousands of dollars over asking price and winning out over local offers.
Re: Tesla’s headquarters will move to Austin
#499Earlier quoted context omitted.
Traffic in Austin is insane. Legit insane. Definitely comparable to the Bay Area if not worse. And there is absolutely no transit alternative comparable to BART. There is a morning and evening train, but it's really only effective if you live and work exactly on the stops.
https://www.cbsnews.com/pictures/worst-traffic-cities-americ... According to this, Austin Texas is #10 on this chart. #1, LA #2, NYC #3, San Fran #4, San Jose (near San Fran) #5, Seattle #6, Miami #7, DC #8, Chicago #9, Honolulu #10, Austin *two* of the top 5 worst traffic areas in the US are in the Greater San Francisco area.
Re: Tesla’s headquarters will move to Austin
#500Earlier quoted context omitted.
https://www.cbsnews.com/pictures/worst-traffic-cities-americ... According to this, Austin Texas is #10 on this chart. #1, LA #2, NYC #3, San Fran #4, San Jose (near San Fran) #5, Seattle #6, Miami #7, DC #8, Chicago #9, Honolulu #10, Austin *two* of the top 5 worst traffic areas in the US are in the Greater San Francisco area.
Again... LA has a surprisingly extensive subway system. NYC, SF, Miami, DC, and Chicago all have robust public transit. Even San Jose and Seattle have non-negligible transit alternatives. Austin has essentially nothing, the train they built is legitimately the dumbest, cheapest option that was offered at the time, though they are building dense housing along it now. People often choose which side of the river to live…