Summarize this content to 2000 words in 6 paragraphs This week real estate listings website Realtor.com announced it is moving its corporate headquarters from Santa Clara in California to Austin, Texas.It becomes just the latest high-profile company to transition from the Democratic-controlled Golden State to the Republican Lone Star State following the likes of Chevron, Charles Schwab Corp. and Tesla.Speaking to Newsweek a Realtor.com spokesperson said: “Realtor.com is making its own big move, and has announced the relocation of our headquarters from Santa Clara, Calif. to Austin, Texas. With the move, the company is doubling down on Austin, making it its top hiring location with a commitment to the long-term growth of its team and office footprint in Texas.”Newsweek contacted Texas Governor Greg Abbott and California Governor Gavin Newsom for comment via email on Thursday.Why It MattersCalifornia and Texas have the biggest and second biggest economies in the Union respectively despite pronounced political differences, with the former Democratic Party run whilst the latter is Republican-dominated. As such they are sometimes held up as a microcosm showing the impact of liberal versus conservative policies across the nation.Over the past few years, Texas has seen its population surge, increasing by 1.6 percent in the year to July 2022. Over the same period a number of Democratic-controlled states saw their populations fall with California shrinking by 0.3 percent, Illinois by 0.9 percent, Oregon by 0.4 percent and New York by 0.9 percent.What To KnowAccording to Bloomberg Realtor.com has around 60,000 square feet in its Austin headquarters, with some workers who used to be based out of Santa Clara having been instructed to work remotely.Over the past few years, Austin has seen a construction boom with a million square feet of new offices created, with the metro area having a nearly 30 percent vacancy rate at the end of 2024 according to data from real estate company Cushman & Wakefield.In July 2024 Elon Musk announced he was moving the headquarters of X, formerly Twitter, and SpaceX to Texas in response to California Governor Gavin Newsom’s approval that stops teachers being required to inform parents if their children change their gender identity.
The Texas flag is seen before the game between the Houston Cougars and the Texas Longhorns at TDECU Stadium on October 21, 2023 in Houston, Texas.
The Texas flag is seen before the game between the Houston Cougars and the Texas Longhorns at TDECU Stadium on October 21, 2023 in Houston, Texas.
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In an X post, Musk said: “This is the final straw. Because of this law and many others that preceded it, attacking both families and companies, SpaceX will now move its HQ from Hawthorne, California to Starbase, Texas.” Musk is now a close Donald Trump ally and heads up the recently formed Department of Government Efficiency.Financial services company Charles Schwab Corp. was based in San Francisco until 2021 when it shifted its headquarters to Westlake in Texas. In August 2024 oil giant Chevron announced it was moving its headquarters from San Ramon in California to Houston, Texas.Rising crime has been given as one factor for businesses and people leaving California, with the state suffering a 30 percent increase in its homicide rate from 2019 to 2020 according to FBI figures. Over the same period, crime fell in Texas by 4 percent according to the Texas Department of Public Safety.What People Are SayingIn a statement provided to Newsweek, Realtor.com CEO Damian Eales said: “Austin and Texas offer a strong and growing talent pool, a powerhouse economy with unparalleled housing growth, affordability of living only matched by its aspirational lifestyle, expansive tech and academic communities, and a dynamic and vibrant city at the heart of the thriving state of Texas. There is no better place for us to call home.”Basing Realtor.com in Texas puts our company at the heart of innovation and inspiration at a moment of national economic renaissance for America. We are proud to be housed in a state which understands the crucial role played by business in providing opportunities for personal growth, professional success and community achievement.”Governor Abbott commented: “We are proud to welcome Realtor.com’s corporate headquarters to Austin as they expand their presence in Texas, along with our state’s growing housing market.”Our state’s growing housing market,” said Governor Greg Abbott. “Thanks to our unmatched business environment, no corporate or personal income taxes, and our highly skilled, young, and diverse workforce, Texas is the right place for Realtor.com.”What Happens NextBoth commentators and the public will likely continue paying close attention to the relative economic performance of California and Texas over the next few years as a way of judging the wider merits of Democratic and Republican rule. Since Trump’s election victory in November 2024, a number of prominent companies have announced they are either rolling back or abandoning diversity, equity and inclusion (DEI) initiatives.
