Realtor.com, a major real estate listings platform, has announced it is relocating its headquarters from Santa Clara, California, to Austin, Texas. The move is part of a larger trend of businesses fleeing California’s high costs, regulations, and tax burdens for the business-friendly environment of Texas.
Key Facts:
- Realtor.com, a subsidiary of News Corp, is moving its headquarters from Santa Clara, CA, to Austin, TX.
- The company cited Austin’s affordability, growing tech community, and strong economy as reasons for the move.
- Texas has been attracting major businesses like Chevron, SpaceX, Tesla, Oracle, and Charles Schwab.
- California’s population declined by 0.3% in a year, while Texas grew by 1.6%.
- Realtor.com’s Austin office spans 60,000 square feet, but the city has a nearly 30% office vacancy rate due to a construction boom.
The Rest of The Story:
Realtor.com’s relocation is another warning sign for California’s economic and business climate.
The company praised Texas for its affordability, talent pool, and economic strength, calling its move a “downpayment on the American Dream.”
The decision follows similar moves by major corporations like Chevron and Tesla, which have criticized California’s high taxes and restrictive policies.
The trend of companies leaving California isn’t slowing down.
Even Meta’s Mark Zuckerberg has reportedly relocated trust and safety workers to Texas and is considering shifting the company’s legal residence there.
Other notable departures include Gordon Ramsay’s restaurant group, Hewlett Packard Enterprise, and Pabst Brewing Company.
While some workers will operate remotely, Realtor.com’s relocation highlights Texas’ appeal.
However, Austin’s rapid growth has led to a surge in office vacancies, with commercial real estate brokerage Cushman & Wakefield reporting a nearly 30% vacancy rate.
Commentary:
California is experiencing the consequences of decades of reckless policies.
High taxes, burdensome regulations, and skyrocketing housing costs have made it nearly impossible for businesses to thrive.
The state continues to prioritize social spending, environmental mandates, and ideological policies over economic stability, driving companies and individuals to states with friendlier business environments.
The irony is hard to miss, California politicians push for equity and economic justice but end up hollowing out the middle class.
Meanwhile, Texas continues to grow, attracting both businesses and residents with its lower taxes, reasonable cost of living, and fewer restrictions on economic growth.
Realtor.com’s move is just the latest example of a state that rewards success rather than punishing it.
Adding insult to injury, California is still pushing costly initiatives like billions in reparations proposals, expanding benefits for illegal immigrants, and an over-budget bullet train project that won’t even connect Los Angeles to San Francisco.
Who exactly will pay for all of this when businesses keep leaving and the tax base continues to shrink?
The state’s political leadership has ignored warning signs for years, assuming that California’s prestige alone would keep businesses in place.
That assumption is proving to be false.
At some point, even the biggest companies will question whether it makes sense to operate in a state that sees them as little more than a piggy bank.
The Bottom Line:
Realtor.com’s departure is just the latest in a wave of corporate relocations from California to Texas.
Businesses are choosing economic freedom and stability over high taxes and excessive regulation.
California’s leadership has a choice: reform policies to keep companies and workers or watch as more leave, taking jobs and tax revenue with them.
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