Tesla moving HQ to Austin (Commerce, Leander: rent, credit, house)

[Need4Camaro]

Originally Posted by ashbeeigh

But again, you aren't recognizing how hard it is for others to let go of these attachments. And that's where the conflict lies. I get it too, I get that financially, these attachments mean nothing, but don't take the blanket my second generation Swedish/Irish American grandmother made from me because I will throw a fit. Just like people are throwing fits when land and homes that have been in a family for 3 to maybe even 6 generations back gets taken away due to development. (And I use fit as a metaphor) Sure, maybe my blanket will slowly wither away because I have slept with it every night for 37 years and maybe these families will be "forced out" but let's be reasonable and try to help them first, maybe even help them find somewhere within the community that would work for them. (Just like I could ask a cousin for another blanket).

Then it comes to the question of how?... If we gave them funding and grants, the only thing that would happen is housing would become even more unaffordable because there would be less inventory with the same demand. California did very similar things by trying to cap taxes, people ended up holding onto property to lock in their tax rates and California also drastically reduced the amount of homes they built, another result their housing prices soared. More inventory would do better at helping them as it would keep housing prices at realistic obtainable levels.

[Trainwreck20]

X houses total in a given area.
X + Y people looking for houses in that area.

Fundamentally changing who can afford a house (via subsidy, income limits, price controls, etc) only moves people up and down in priority and does not solve any issues. Trying to regulate who lives in a location and who doesn't is less equitable than letting the market decide. Being unable to afford a particular area is not fundamentally 'unfair'.

Being 'attached' to an area is not in any way a protected right; however, very few people area truly 'forced' out of an area - between deferred taxes or the ability to use the equity to fund tax payments, you are only forced out if you do not want to give up the value of the house. It is a dilemma, for sure - if the value had not gone up, neither would your taxes and you would not have been 'forced' out, but your property would have minimal value in the final reckoning. If the value does go up, you will need to use that increased value to offset the taxes so you can stay, leaving you with minimal increases in value 'at the end'.

[ashbeeigh]

I think keeping this thread on the topic of Tesla instead of another thread on the state of the Austin housing crisis would be helpful. Or if you all want to continue this theoretical talk I'll step away because it ends up being the same circle conversation everytime.

[ScoPro]

I’ll add a Texas State Fair Fletcher’s corn dog to the conversation (courtesy of my son)

[ashbeeigh]

Housing prices around Tesla gigafactory have already increased nearly 45%, experts say it could keep climbing

https://www.kxan.com/news/local/aust...M4E0VUFd0CRj-0

Data from real estate brokerage Redfin shows that in the factory’s zip code, 78725, the median home sale price is up 44.7% over last year. The company said that’s about a 10% higher average increase than the entire Austin metro between August 2020-2021.

And here we are.

[cheeva]

Originally Posted by ashbeeigh

And here we are.

Prices or values?

If the zip is full of 100K mobile homes, and you seeing new housing starting at 500K, that doesn't mean the mobile home values jumped up to 300K. Itjsut means that nice things are coming to an economically depressed area, adn the mobile home dwellers will probably see economic benefit from it.

[ParaguaneroSwag]

This particular news article won’t impact the Austin housing crisis a lot on its own. Tesla already did that when they laid out their Austin’s plan over a year ago. The jobs and investment already happened. This just puts a stamp on Tesla’s commitment to Austin.

[DabOnEm]

Originally Posted by ashbeeigh

But again, you aren't recognizing how hard it is for others to let go of these attachments. And that's where the conflict lies. I get it too, I get that financially, these attachments mean nothing, but don't take the blanket my second generation Swedish/Irish American grandmother made from me because I will throw a fit. Just like people are throwing fits when land and homes that have been in a family for 3 to maybe even 6 generations back gets taken away due to development. (And I use fit as a metaphor) Sure, maybe my blanket will slowly wither away because I have slept with it every night for 37 years and maybe these families will be "forced out" but let's be reasonable and try to help them first, maybe even help them find somewhere within the community that would work for them. (Just like I could ask a cousin for another blanket).

Yeah this is the big issue you see for people now. That's why during the last 18 months stock trading apps have become so popular, and stocks became memes like GME, AMC, and even Tesla itself earlier on. Similar things in crypto. Why? People want that lottery ticket because they've realized just saving for the house they want (not house they settle for) won't work especially since more is being spent on rent. It's a sad unfortunate reality many came to the conclusion of over the last year. What happened in the desirable areas California in the 70s/80s is starting to happen to Texas cities now. Basically by now or make some good investments so you can buy later. It's literally one of the reasons Tesla says they're moving to Texas, so their folks can own homes. So you either got to find a job at one of these high salary places or invest.

As for the HQ location, I think Tesla would be wise to build something close to their factory. With remote work in play forever now, those "trendy" employees moving to DT Austin or a hill country suburb won't have to commute five days a week, and it'll give the eastern Austin metro a chance to grow more quality neighborhoods.

[Need4Camaro]

I want to get into the stock market but I don’t know where I would begin.

[ParaguaneroSwag]

Originally Posted by Need4Camaro

I want to get into the stock market but I don’t know where I would begin.

Definitely not in 2021. You’re one year too late.