Austin became one of the fastest-growing cities in the US. New constructions are everywhere. During the pandemic, Austin was the most popular place for Americans to move during the pandemic. Many people moved from California to Texas due to the cost of living in California. According to data, living in California is 50% more expensive than the average cost of living in the United States. Another reason is the way Texas boosted its surging technology industry. Apple constructs a massive campus here. While Samsung is considering building a new facility. Around a month ago, Elon Musk announced that he will move Tesla’s headquarters to Texas, from California. Businesses and people like Texas’ climate. Also, low taxes is a huge benefit for any business. However, all these migrations to Texas might cause some problems for the city. Such as lack of public transportations, competition growth, and increase in the cost of goods
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When I lived in Oregon, there was a big migration from California to Oregon. This caused a strong negative sentiment in Oregon communities towards the Californians because of the increasing housing prices they drove up. I imagine similar things will happen in Austin, Texas.
Texas has consistently been a place that I have heard about to be "the place" to go for retirement or when relocating. This is due primarily to the housing market. I have constantly heard that you get "more bang for your buck" in Texas which encourages people to move there. However, with higher demand comes higher prices, so with a large influx of large businesses and more people, there will be higher prices. I wonder how much of an influx it'll take for Texans to see the increase.
Texas is definitely a state that I could see become one of the biggest homes to tech. We have recently seen a surge of businesses move to Texas and specifically Austin. For example a new MLS club has recently set up in Austin while other professional sports teams have been in discussion. With all of these businesses moving to Texas I could see some corporate competition but this should only mean good news in terms of innovation.
Everyone that I have known to move to Texas has loved it. There may be problems that occur as you mentioned such as public transportation, competition growth, and an increase in COGS, but I believe all of that will be offset by the number of jobs available once new businesses move and the amount of increased foot traffic businesses will see with people moving down there. Hopefully, this increase in the demand will help incentivize businesses to try and speed up supply chain shortages.
Along with housing prices and the cost of living increase, it will also be interesting to see how the voting pattern changes as people move from a liberal state to a more conservative one and what that would mean for future elections.
It will be interesting to see how texas adjusts to the number of people moving into their cities. Will the housing markets be able to keep up with the influx? Will the roads/cities/buildings/infrastructure be able to support this high volume? I believe that the market will eventually solve these problems. More and more houses will be built, and more jobs will be made. It's just a matter of how long this will take. I think that Texas may be the 'new California'.
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