Massive-scale relocation by companies to the Sun Belt area in US

Sun Belt area is getting too much attraction as more and more companies relocate from the north to mainly cut down operating costs. Along with that, it's fueling the housing boom as the prices of houses are skyrocketing in Texas.

Jeff Holzmann, the CEO of IRM Services, an asset management company, says, "We have saved millions for the company within two years by relocating to Dallas from New York-New Jersey."

In addition to that, he also added, "We pay almost 60% less per employee in Dallas compared to what we used to pay back in New Jersey, and it's significantly huge cost saving."


Further, he also explained that the reason for this is that "Here in Dallas, people are seeking growth opportunities, and talent is present at affordable rates."

"I am making a good amount of money and saving a major portion of it as here it is quite cheap to live.", says Barbara Kogler, one of the employees who has relocated from north to south for more growth opportunities.

Tech giants and multinational companies like Apple, Tesla and Hewlett Packard Enterprise are also not behind, and they are also making their way to the south.

According to U.S. Census Bureau, "The relocation of companies to the South is helping Texas become one of the fastest-growing states in the U.S."

Samsung has also declared to move part of its operations to Texas, which will help create more than 2,000 jobs in the Austin area of Texas. After this big move from one of the largest tech giants Samsung, real estate developers are also attracted to Austin as they want to keep up with the high demands of the housing sector in Texas.

Finally, in all this relocation of companies to cut down their costs, it is expected that the housing sector will get a boost.

But the major challenge will be that as there is migration on a vast scale, the demand is by far exceeding the supply, and if the demand and growth don't match up, then the inflation issues may create some troubles in Texas. Although it is expected that the demand and growth will soon offset each other, such issues won't happen.