From a recent article in the Austin American Statesman, another San Jose firm has decided to move their HQ from San Jose to Austin. Although not a large firm, FileTrail with its 38 employees is moving from expensive San Jose to much more reasonable Austin. And they plan to hire another ten employees. The reason for the move is always for the same reasons that other firms have decided to move or expand to the Austin area. They will leave behind expensive housing, a state income tax, and an unfriendly business climate for just the opposite. Darrell Mervan, the CEO of FileTrail states that the reasons for the move to Austin was the lack of a state income tax, cheaper real estate, a good pool of potential employees, and Austin is a place that employees would like. Note that one of the reasons not cited was lack of traffic!
These are the same reasons we moved from San Jose back in 1981 but back then there wasn’t as much traffic.
So with all of this stated doesn’t it make good sense to own Austin area residential real estate? Have you been following the stock market?