Tina Bellon

AUSTIN (Texas) – Austin is known for its uniqueness and prides itself in “keeping it strange.” However, the success of Austin at attracting more large companies like Tesla (NASDAQ:) Inc makes some people wary about being priced out of this special culture.

Tesla’s CEO, Elon Musk, said on Thursday the electric car maker will move its headquarters https://www.reuters.com/business/autos-transportation/tesla-moving-headquarters-austin-texas-says-ceo-musk-2021-10-07 from Palo Alto, California, to Austin, Texas.

In Austin, housing prices have risen dramatically in recent years due to large tech companies like Alphabet and Apple Inc (NASDAQ). Oracle Corp New campuses are being built in the area and surrounding cities by (NYSE:

Trish Webb of South Austin said, while taking a break from her work as an administrator at the hospital that she is happy about all the new jobs. However, her family has already been unable buy a house.

According to real estate brokers, Austin house prices have increased by 40% in the past two years. The median home price was $549,000 in September. Redfin (NASDAQ)

Many Austinites are frustrated by the frequent reports that out-of state buyers (especially Californians) have purchased houses for cash, at twice their asking price. Redfin data revealed that nearly 33% of the 4 houses in Austin sold for more than the asking price in summer.

Musk announced his intention to relocate 10,000 workers from California to the new plant east of San Francisco. The number of corporate employees Tesla plans to relocate from California or hire here is not known.

Reed Chorry is 26, from Houston, who has been moving to Austin for several years and now works as a salesperson.

Austin City Limits’ unofficial slogan – “Keep Austin Wild” – is what has created a bohemian, quirky cultural scene. It has transformed local music festivals such as South by Southwest and Austin City Limits into major national destinations.

Ryan Baker (32), who is a chef at an East Austin restaurant, said that it would be difficult to maintain this level of service as Austin grows.

Steve Adler (Austin Mayor) welcomed Tesla’s decision. He said that Tesla fits in Austin’s strong entrepreneurial, innovative, and environmental-focused culture. Questions about affordability of housing were not answered by his office.

Austin’s rapid expansion is expected to worsen congestion in the area. Three-quarters of Austin’s residents will drive alone to work each day.

While Austin works to improve public transportation, Tesla’s factory can be found in a transit desert.

Rob Spillar, Austin Transportation Director, said that while the city might consider transit options for the plant’s location, it still expects the majority of Tesla workers to travel to work by car. Spillar stated that Austin is hoping to attract more workers by increasing the number of housing options, medical clinics, and stores near the plant.

Roberts Communities is a developer of affordable manufactured housing and hopes to reap the benefits. This company bought large parcels of land located just minutes away from Tesla’s factory, and is now selling houses for around $80,000

The average annual wage for Tesla workers is $47,000. Travis County’s Health and Human Services Division considers this low.

Brandon Long, an Oak Ranch sales manager for Roberts Communities, stated that “all those workers will desire to live somewhere nice and clean, affordable, with their families.”