Red states have spent decades dominating a key corner of the economy — will the blue wave change that?

Fox News · Amanda Macias · 2026-11-06 15:29 UTC

The "Crazy Rich Texans" trend is backed by data as a study of 24,000 transactions shows red states outpacing blue states in real estate returns.

DALLAS — Red states have quietly outpaced their blue-state counterparts in commercial real estate investment returns for years, according to a new study highlighting stark differences in state economic policies.

But sweeping Democratic gains in Tuesday's midterm elections — even in traditionally deep-red strongholds — are raising questions about whether those states can maintain their economic advantages as the political landscape shifts in the new year.

Mitch Flax, founder and chief investment officer of Net Equity Capital, told Fox News Digital his research was sparked by the observation that commercial real estate investors based in blue states were reluctant to invest in their own markets.

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