Elon Musk plans to move X, SpaceX HQs to Texas

[Neil Narayan]

Elon Musk's Austin empire is about to grow a lot more.

The enigmatic serial entrepreneur and world's richest man said July 16 on X that he will move X's headquarters from San Francisco to Austin. He also said that he will move Space Exploration Technologies Corp. from Hawthorne to its Starbase in South Texas where it is developing plans to one day send humans to Mars.

The move further cements Musk's influence on the Austin area and, more broadly, the state of Texas.

[Andrew Syrios]

California is going to be a ghost state pretty soon. 

[Neil Narayan]

From the article -

"Have had enough of dodging gangs of violent drug addicts just to get in and out of the building," Musk posted.

[Jay Hinrichs]

Quote from @Andrew Syrios:

California is going to be a ghost state pretty soon. 

YUP pretty sad whats happened to Baghdad by the bay.. Herb Cohen quote .

Although just south in Silicon valley when one firm moves 2 take its place..

[Neil Narayan]

I was there last week, that place is the hot bed of high tech lol

[Andrew Syrios]

Quote from @Jay Hinrichs:

Quote from @Andrew Syrios:

California is going to be a ghost state pretty soon. 

YUP pretty sad whats happened to Baghdad by the bay.. Herb Cohen quote .

Although just south in Silicon valley when one firm moves 2 take its place..

 Silicon Valley though is just one part of California though. And while they bring in tons of money, they don't hire many people or have many storefronts other than their giant campuses. Check out this video of downtown LA. There are similar ones for San Fran that are even worse: 

;t=

[Ned J.]

Oh no.... what we will we ever do in CA... 

[Jordan Moorhead]

Great news for Austin! More will follow! I'm very excited about this Texas Stock Exchange that should open in 2026 too. Texas will continue to be an economic juggernaut long into the future with the enormous base we're building. I need to buy more real estate here!

[Jay Hinrichs]

Quote from @Andrew Syrios:

Quote from @Jay Hinrichs:

Quote from @Andrew Syrios:

California is going to be a ghost state pretty soon. 

YUP pretty sad whats happened to Baghdad by the bay.. Herb Cohen quote .

Although just south in Silicon valley when one firm moves 2 take its place..

 Silicon Valley though is just one part of California though. And while they bring in tons of money, they don't hire many people or have many storefronts other than their giant campuses. Check out this video of downtown LA. There are similar ones for San Fran that are even worse: 

;t=

California is just trailing the mid west /  rust belt/ Deep South that has already been through this the amount of vacant commerical in the mid west is just as staggering as what is happening now in CA.. and it was for the same reasons.. Theft vandilism etc.. you know the hood..

[Jay Hinrichs]

Quote from @Jordan Moorhead:

Great news for Austin! More will follow! I'm very excited about this Texas Stock Exchange that should open in 2026 too. Texas will continue to be an economic juggernaut long into the future with the enormous base we're building. I need to buy more real estate here!

Jordan.. all you young Entrepreneurs need to be forming little co ops and buying dirt in the path of progress thats where fortunes are going to be made.. 

[Justin R.]

@Jay Hinrichs So true!

I’m in CA and love the state, but not the politics, and policies.

Anyone in tech that is doing a startup knows the smartest tech minds are in the Bay Area, so for at least the near future it will remain the hub.

Did someone say Nvidia? Perlexity? Flutterflow? WriteSonic?

Regardless, CA needs to clean up its act or else tech (and film) will eventually get fed up. Hopefully the voters and politicians will get the point 🤞

[V.G Jason]

Quote from @Andrew Syrios:

California is going to be a ghost state pretty soon. 

 It'll never be a ghost state, not with that weather. It'll just have more second homes than ever before. With that said, this news is no surprise. Elon is very pro-Texas, and very pro-Austin. It's hard not to be as the greatest city in America.

[Steve K.]

Texas is turning into California and Colorado is turning into Texas. My last several tenant applicants were Texans and my last several listings sold to Texans. 

[Jay Hinrichs]

Quote from @Steve K.:

Texas is turning into California and Colorado is turning into Texas. My last several tenant applicants were Texans and my last several listings sold to Texans. 

I used to fly through Dallas and Houston a lot coming back to Portland and on one of those clear blue days and when the approach is through the Columbia Gorge with Mt. Hood to the left and Mt. Adams to the right  just spectacular scenery.. I would often hear others on the plane from Texas say.. Man this is pretty if I could get a job here I would move from Texas right now :).. something about the Mtns that draws folks..

[Andrew Syrios]

Quote from @Jay Hinrichs:

Quote from @Andrew Syrios:

Quote from @Jay Hinrichs:

Quote from @Andrew Syrios:

California is going to be a ghost state pretty soon. 

YUP pretty sad whats happened to Baghdad by the bay.. Herb Cohen quote .

Although just south in Silicon valley when one firm moves 2 take its place..

 Silicon Valley though is just one part of California though. And while they bring in tons of money, they don't hire many people or have many storefronts other than their giant campuses. Check out this video of downtown LA. There are similar ones for San Fran that are even worse: 

;t=

California is just trailing the mid west /  rust belt/ Deep South that has already been through this the amount of vacant commerical in the mid west is just as staggering as what is happening now in CA.. and it was for the same reasons.. Theft vandilism etc.. you know the hood..

 I think this is different. I'm in the Midwest and our downtowns are nothing like that. This is 70s style urban blight brought on by an unaddressed homeless problem and lots of crime. 

[Andrew Syrios]

Quote from @V.G Jason:

Quote from @Andrew Syrios:

California is going to be a ghost state pretty soon. 

 It'll never be a ghost state, not with that weather. It'll just have more second homes than ever before. With that said, this news is no surprise. Elon is very pro-Texas, and very pro-Austin. It's hard not to be as the greatest city in America.

Perhaps more accurately a state with a few tech billionaires, a large homeless population and a sizeable number of recent immigrants who are there until they realize it would be best to move to a different state. 

[Jay Hinrichs]

Quote from @Andrew Syrios:

Quote from @Jay Hinrichs:

Quote from @Andrew Syrios:

Quote from @Jay Hinrichs:

Quote from @Andrew Syrios:

California is going to be a ghost state pretty soon. 

YUP pretty sad whats happened to Baghdad by the bay.. Herb Cohen quote .

Although just south in Silicon valley when one firm moves 2 take its place..

 Silicon Valley though is just one part of California though. And while they bring in tons of money, they don't hire many people or have many storefronts other than their giant campuses. Check out this video of downtown LA. There are similar ones for San Fran that are even worse: 

;t=

California is just trailing the mid west /  rust belt/ Deep South that has already been through this the amount of vacant commerical in the mid west is just as staggering as what is happening now in CA.. and it was for the same reasons.. Theft vandilism etc.. you know the hood..

 I think this is different. I'm in the Midwest and our downtowns are nothing like that. This is 70s style urban blight brought on by an unaddressed homeless problem and lots of crime. 

Maybe right down town in the financial districts.. but you can go to any big city in the mid west rust belt deep south and find all sorts of vacant commercial.. I have seen it personally over the last 20 plus years of funding deals in those cities I spend time there I see it.. I cant really comment on the reasons why as I dont want to get flamed  LOL..

[Nicholas L.]

Someone let me know when the median home price in Rancho Palos Verdes is reasonable again

[Alan F.]

Quote from @Jay Hinrichs:

Quote from @Andrew Syrios:

California is going to be a ghost state pretty soon. 

YUP pretty sad whats happened to Baghdad by the bay.. Herb Cohen quote .

Although just south in Silicon valley when one firm moves 2 take its place..

 The South Bay isnt really killing it right this moment, a lot of tilt ups are being scraped for MF. Smaller manufacturers and CR support contractors are stinging. A lot of empty parking lots still. Biotech and AI are doing well. Software development is slow. There's alot of apartments that are close to completion, it's all becoming very urban.

[Jay Hinrichs]

Quote from @Nicholas L.:

Someone let me know when the median home price in Rancho Palos Verdes is reasonable again

I bet you can  get a deal on one the cliff hangers over the beach that probably will be on the beach in 20 years :)

[Jay Hinrichs]

Quote from @Jay Hinrichs:

Quote from @Andrew Syrios:

Quote from @Jay Hinrichs:

Quote from @Andrew Syrios:

Quote from @Jay Hinrichs:

Quote from @Andrew Syrios:

California is going to be a ghost state pretty soon. 

YUP pretty sad whats happened to Baghdad by the bay.. Herb Cohen quote .

Although just south in Silicon valley when one firm moves 2 take its place..

 Silicon Valley though is just one part of California though. And while they bring in tons of money, they don't hire many people or have many storefronts other than their giant campuses. Check out this video of downtown LA. There are similar ones for San Fran that are even worse: 

;t=

California is just trailing the mid west /  rust belt/ Deep South that has already been through this the amount of vacant commerical in the mid west is just as staggering as what is happening now in CA.. and it was for the same reasons.. Theft vandilism etc.. you know the hood..

 I think this is different. I'm in the Midwest and our downtowns are nothing like that. This is 70s style urban blight brought on by an unaddressed homeless problem and lots of crime. 

Maybe right down town in the financial districts.. but you can go to any big city in the mid west rust belt deep south and find all sorts of vacant commercial.. I have seen it personally over the last 20 plus years of funding deals in those cities I spend time there I see it.. I cant really comment on the reasons why as I dont want to get flamed  LOL..

ya well cupertino palo alto los altos and los altos hills Monte vista Saratoga Los gatos still basically $2,000.00 a sq ft for SFR housing.. I am sure there  are deals less but when you consider the mid west at 75 to 125 a foot  thats a big spread.. and basically for the same quality houses.

[Dan H.]

Quote from @Jay Hinrichs:

Quote from @Nicholas L.:

Someone let me know when the median home price in Rancho Palos Verdes is reasonable again

I bet you can  get a deal on one the cliff hangers over the beach that probably will be on the beach in 20 years :)

 Not that I have seen.  They seem to Be priced as though they will never get consumed by the ocean even though every year some are. 

I suspect it is denial.  this past year the ocean got to my beach property more than any other year.  So far it has mostly been a deposit of sand.  This year I hauled away a few hundred pounds of sand.  Is this an outlier year?   I Expect not, I expect the water to get to my property even more in the next few years. 

Are beach properties discounted?   A little condo sold near my beach property at $1.7m.  Does not seem like a discount.  

[Bruce Lynn]

@Dan H.   If companies keep moving out, who are the buyers?   I would have thought Chinese national buyers would have mostly dried up by now.  Is it locals?  People from other international locals?  Northern CA looking to move south?   We hear about all the companies moving, but are some expanding, hiring more, growing?   Do people from around the country retire to southern CA?

[Bruce Lynn]

@Neil Narayan   it will be interesting to see how many space engineers and rocket scientist will move from Hawthorn to Boca Chica which is nowhere near Austin.  Probably 7hr drive.  Maybe Elon will build a Chunnel from Austin to the launch site.

[Dan H.]

Quote from @Bruce Lynn:

@Dan H.   If companies keep moving out, who are the buyers?   I would have thought Chinese national buyers would have mostly dried up by now.  Is it locals?  People from other international locals?  Northern CA looking to move south?   We hear about all the companies moving, but are some expanding, hiring more, growing?   Do people from around the country retire to southern CA?

 I was in particular referring to discounts on houses that may fall into ocean in near future. 

To answer your question: As for my market (San Diego) there is such a shortage of housing that even with a steady population we have been near nation high in RE appreciation each of the last few years.  Did you see the core logic stats that were released in the last couple of weeks.  It shows San Diego once again near nation high in appreciation at 9% Yoy.  A year ago, it was also near nation high. 

There are few location where it is more difficult to add housing.  To the south is Mexico, to the west is the Pacific Ocean, to the north is Camp Pendleton then OC, to the east it quickly gets harsh.  There is very little easily build able infill left. 

The population could decline and we still would not have enough housing but with a steady population we are significantly short housing.  I typically fill my vacancies in the initial open house asking at the high end of market rent.  

[Don Konipol]

NYC went through a severe decline in finances, population loss, greatly increased Crome, etc in the period from 1960 - 1982.  When the public threw out the leftist politicians who were worried about criminals “rights” rather than victims rights and eased regulations on business, encouraged new construction rather than prohibiting it, the NYC turned around.  The police took back the parks from the thugs and drug dealers’ placed cameras and identified and arrested muggers; arrested drug dealers and put them away with harsh sentences.  Of course NYC is now back (not as bad as) to the leftist agenda of encouraging class warfare. 
I’m no great fan of the Republic party “agenda”, BUT, what choice do I have?