Musk’s ventures are just a few of the many technology companies relocating to Texas in recent years, including significant expansions by already-established giants such as Apple and Google. This is in addition to Tesla CEO Elon Musk himself moving to Texas, as well as SpaceX and Neuralink also significantly ramping up their operations in the Lone Star State. Take for example Tesla, which is in the process of building “ Giga-Texas,” a $1 billion dollar, 2,000 acre factory slated to produce the company’s new line of Cybertrucks and create atleast 5,000 jobs. Moreover, corporate relocations have created dramatic surges in demand for housing in certain regions and cities. Experts believe that increased time spent at home, especially fueled by policy changes by many large corporations encouraging work-from-home, has caused increased interest in renovating homes and living spaces. Lumber prices have skyrocketed, having nearly tripled in price since this time last year, due in large part to increased demand for home renovation projects, new home builds, and decreased global production. BROWN/AFP via Getty Images) AFP via Getty Imagesįurthermore, in addition to the general sentiment due to the Covid-19 pandemic, other factors have also contributed to the milieu of this perfect storm. ![]() Carter is opening the door for more discussions by setting additional hearing dates and clarifying some portions of his ruling. A federal judge overseeing a lawsuit that seeks to end the city's Skid Row homelessness crisis isn't backing down from his order requiring that all indigent persons in the area be offered shelter within six months. In sum, the housing market remains competitive and while the new listings trend is an optimistic sign for hopeful buyers, they still face a challenging market.”Ī man walks past tents housing the homeless on the streets in the Skid Row community of Los. A similar story plays out for new listings. The housing market has followed a similar trend, with relatively low mortgage rates and more positive consumer sentiment fueling a sudden interest in homebuying.ĭanielle Hale, Chief Economist at, writes that “While home prices never declined, they were flat this time last year, which is one of the reasons we’re seeing home prices register such large gains compared to that time. ![]() Accordingly, investment in the stock market has quickly escalated, pursuing market enthusiasm based on projected economic and GDP growth due to aggressive hopes of vaccination and “reopening” measures. ![]() However, over the course of the last few months, especially as the hope of “normalizing” back to pre-pandemic life has continued to grow, economic growth and consumer spending has also followed a positive trajectory.
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