Tesla employees heading to Austin for the upcoming Cybertruck factory are in for a red-hot real estate market (TSLA)

Frederic J. Brown/AFP via Getty Images

• In July, Tesla in July picked Austin, Texas, as the site for its eventual Cybertruck factory. 
• The company's broken ground on the project, and one real-estate agent said employees are already looking for homes in the city. 
• Unlike San Francisco or New York, home prices haven't dipped much in Texas. 
• Visit Business Insider's homepage for more stories.

Any Tesla employees relocating to Austin for the company's upcoming Cybertruck factory won't be met by the same reprieve in real-estate prices that's hit many other areas of the country.

Home prices in the Texas Capital are still surging, despite some markets seeing a dip due to the COVID-19 pandemic and associated unemployment rates. But now, would-be buyers have increased competition: Tesla employees.

See the rest of the story at Business Insider

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See Also:

• Chinese Tesla rival Nio wants to lower the price of owning an EV by selling cars and leasing their batteries
• Trump urges Americans to boycott Goodyear Tire after the company told employees they couldn't wear MAGA hats or any political attire to work
• Tesla registrations slumped in China in July, even as the the world's largest auto market mounts a coronavirus comeback

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