JACKIE: ALL ROADS LEAD TO THE
LONE STAR STATE THE DALLAS-FORT
WORTH ARE SEEING MASSIVE INFLUX
OF ANY RESIDENTS FLEEING HIGH
TAX STATES LIKE NEW YORK,
CALIFORNIA, AND EVEN ILLINOIS.
JOINING ME NOW IS TEXAS BASED
REAL ESTATE EXECUTIVE, ARIE, HOW
IS THE HOUSING MARKET HANDLING
THE DEMAND THAT WE’RE SEEING
ARIE, YOU KNOW MARIA ALWAYS
LOVES TO SAY MONEY IS MOBILE.
AND LARRY KUDLOW WILL ALWAYS SAY
MONEY GOES WHERE IT IS TREATED
BETTER THAT, IN FACT, IS WHAT’S
HAPPENING.
>> THAT’S EXACTLY WHAT’S
HAPPENING.
I MEAN, HOUSING PRICES IN
AUSTIN, DALLAS THROUGHOUT THE
GOLDEN TRIANGLE ARE SURGING IN
AUSTIN IN PARTICULAR, YOU’RE
LITERALLY SEEING HOUSES SELL
WITHIN 24 HOURS WITHOUT ANY
FINANCING CONTINGENCY COMPLETELY
UNPRECEDENTED YOU SAW ELON OTHER
DAY SAY THERE’S AN URGENT NEED
FOR HOUSING DEVELOPMENT WHICH
ARE, OBVIOUSLY, YOU KNOW, TAKE
BEING A BIG PART OF REBUILDINGS
ALMOST 4,000 HOUSES IN NSA
BECAUSE THERE’S A STRIKING NEED
FOR IT WHEN YOU HAVE 156 PEOPLE
A DAY MOVING TO THE CITY, INCLUDING, YOU KNOW, COMPANIES
INCLUDING, YOU KNOW, COMPANIES
LIKE ORACLE MOVING AND YOU NEED
HOUSING AND INFRASTRUCTURE TO
SUPPORT THAT TYPE OF GROWTH 2378
>> YOU BROUGHT UP CALIFORNIA
COMPANIES YOU KNOW BUT ELON MUCK
EXAMPLE, I THINK IT IS REALLY
INTERESTING BECAUSE WE’RE GOING
TO SEE AN EXODUS AT THE READY
THAT MIGHT HEIGHT OPINION FROM
OTHER STATES INCLUDING NEW YORK
AS WE’RE TALKING ABOUT ENTICINGS
PEOPLE TO COME BACK HERE WITH
HIGHER TAXINGS.
AND DIFFICULT TO IMAGINE HOW
THAT WOULD HAPPEN, AND SO YOU HI
TO YOURSELF WELL SOME OF THESE
NEW YORK BASE BUSINESSES
PLANNING TO GO BACK HERE AND
WON’T AND GO BACK TO TEXAS AND
FLORIDA AND, IN FACT, YOU’LL
NEED MORE HOUSING.
>> YEAH.
BUT THIS IS EXACTLY RIGHT BUT
YOU KNOW I THINK THE POINT IS
LOOK WE SEE THIS AS A COVID
THING.
BUT REALLY THIS IS ALREADY
HAPPENING.
COVID THROUGH JET FIRE ON JET
FUEL ON IT RIGHT SO THAT’S WHAT
REALLY CAUSED THIS THING TO
REALLY BOOM AT THE AREA IT IS
AND PEOPLE NOT FEELING
COMFORTABLE IN URBAN CORE, AND
CAUSING THIS HOME PRICING SURGE,
SO THAT WOULD HAVE THIS LEVEL
OF, YOU KNOW, ADHERE SOCIAL
DISTANCING.
AND IT’S NOT GOING TO STOP.
YOU KNOW, PEOPLE ARE GOING TO
KEEP COMING TO THESE STATES
EMPLOYERS LOVE IT BECAUSE THEIR
EMPLOYEES GET AN IMMEDIATE RAISE
EFFECTIVELY BY MOVING TO TEXAS
OR FLORIDA OR CITIES LEAK THAT.
AND MAY NOT JUST ON A TAX BASIS
BUT HOUSES ARE CHEAPER.
LOWER COST OF LIVING, GAS IS
CHEAPER.
SO THERE’S A WHOLE CONSULATE
EVENTS THAT ARE LEADING TO THIS.
JACKIE: YOU’RE TALKING AB LOWER
COST OF LIVING YOU’RE TALKING
ABOUT --
MORE OF YOUR MONEY
STATISTICALLYING TO YOUR BONE
BECAUSE YOU’RE NOT PAYING THAT
STATE INCOME TAX AND YOU’RE ALSO
TALKING ABOUT A BETTER QUALITY
OF LIFE IN SOME WAYS TOO.
>> YOU REALLY ARE.
BECAUSE YOUR MONEY, YOUR MONEY
GOES FURTHER WHEN YOU’RE IN OFF
EXAMPLE MY HOMETOWN BORN AND
RAISED ONE OF THE LARGE FEST
REAL ESTATE OWNERS IN THE CITY.
CITY I LOVE VERY, VERY DEARLY.
WE HAVE MORE PUBLIC PARKS THAN
ANY TOP TEN CITY IN THE UNITED
STATES.
THE CITY IS BUILT AROUND LACKS
IT IS ON HELL COUNTRY, ON HILL
COUNTRY IT IS BEAUTIFUL AND
THERE’S A WONDERFUL DIALOGUE YOU
KNOW THAT WE HAVE HERE BETWEEN
THE DIFFERENT, YOU KNOW,
POLITICAL PARTIES THAT ALLOW THE
STIE TO REALLY GROW AND ORGANIC
WAY, AND YOU KNOW, WE’RE
WATCHING REAL COMMUNITY
ENHANCEMENT THAT’S WHAT I’M MOST
PROUD ABOUT IT IN CITY.
JACKIE: BRIAN.
>> ARIE WHEN I TALK TO TEXANS I
HEAR TWO THINGS ONE THEY’RE GLAD
TO BE A STATE PEOPLE WANT TO
COME TO.
BUT THEY’RE ALSO NERVOUS THAT SO
MANY PEOPLE COMING ALL AT ONCE
COMING FROM STATES THAT LOOK A
LOT DIFFERENT IN TERMS OF POLICY
THAN TEXAS, THEY GET A LITTLE
NERVOUS ABOUT WHAT ELSE PEOPLE
ARE BEGINNING TO BRING IN TERMS
OF EXPECTATIONS OF HIGHER TAXES
THE KINDS OF THINGS THAT RAISE
COST OF LIVING, AS YOU’RE
WORKING IN THE REAL ESTATE
MARKET, ARE YOU SEEING SOME OF
THAT LIKE WAIT A SEC THIS IS
HAPPENING TOO QUICKLY.
WE WANT TO MAKE SURE WHEN PEOPLE
COME TO TEXAS THEY KNOW HOW WE
DO BUSINESS IN TEXAS?
>> YOU KNOW, I MEAN THAT’S A
WONDERFUL POINT, AND YES, WE’VE
HEARD THAT TYPE OF CHATTER.
BUT ONCE THEY GET HERE, I THINK
THEY’RE ACTUALLY PLEASANTLY
SURPRISED WITH THE SIMILAR ETHOS
THAT WE HAVE NAMELY IN AUSTIN,
YOU KNOW WITH CALIFORNIA, AND
WITH NEW YORK TO WHERE THEY ARE
FINDING THIS TO BE HOME FINDING
THIS TO BE THEIR NEW HOME.
I THINK THAT THEY’RE PLEASANTLY
SURPRISED BY THAT.
YOU KNOW FROM A POLITICAL STAND
POINT AND FROM A GROWTH STAND
POINT, WE HAVE BEEN WAVING THIS
GROWTH HAPPEN IN TEXAS.
IT IS JUST BECOME MORE
PUBLICIZED.
YOU KNOW OVER THE PAST YEAR OR
SO --
SO WE’RE READY FOR IT.
WE’RE READY FOR THE GROWTH.
YOU KNOW, WE’RE READY FOR YOUR
PUBLIC TRANSPORTATION BILLS
BEING PASSED.
AND A WHOLE SLEW OF OTHER
INFRASTRUCTURE PLANS, PRESIDENT
BIDEN, YOU KNOW, HAS SOME
INFRASTRUCTURE PLANS AS YOU KNOW
YOU ALL WERE TALKING ABOUT
EARLIER.
BUT WE’RE READY AND PREPARED FOR
THE GROWTH IF TEXAS WAS A
COUNTRY, IT WOULD BE THE 10TH
LARGEST KRKT IN THE WORLD ON A
GDP BASE SAYS WE OPERATE 12
BILLION DOLLARS STIMULUS.
>> ARIE --
IT IS --
PHENOMENAL TO SEE WHAT’S
HAPPENED IN TEXAS.
THE ONLY THING IS THE EXODUS
FROM BLUE STATES THOSE PEOPLE
BRING THEIR BLUE VOTES WITH THEM
AND SOMETIMES THEY FORGET WHERE
THEY LEFT THEIR BLUE STATES AND
THEN THEY GO TO A RED STATE AND
HOPEFULLY THEY DON’T CHANGE THE
DYNAMIC THERE BUT THAT’S
SOMETHING I’VE BEEN WATCHING
CLOGSLY.
ARIE GREAT TO SEE YOU THIS