Demand in the luxury market is following SpaceX's listing. [Photo: Reve AI]

With SpaceX's initial public offering confirmed, U.S. markets for luxury real estate, high-end watches and private jets are reacting first.

CNBC reported on June 11 that current and former SpaceX employees cannot yet immediately turn their stakes into cash, but some have begun making spending plans with future liquidity in mind.

The first signs are appearing in the property market. In Southern California, inquiries about luxury homes from long-serving SpaceX employees are increasing, it reported. Realtor Gerard Bisignano said several employees in their mid-30s to early 40s have been looking at homes recently, and some are also considering buying a home for their families.

Manhattan Beach, Redondo Beach, Hermosa Beach and Palos Verdes Estates, near SpaceX's California office, are cited as potential beneficiary areas. Bisignano said demand for luxury homes in the area could increase. Demand for second homes in California resort areas such as Mammoth Lakes, Palm Springs and Tahoe could also rise, it said.

The Austin metropolitan area in Texas is seeing a similar trend. Near SpaceX's Bastrop campus, some employees are looking to buy homes first using margin loans, while other employees are waiting for restrictions on selling their shares to end, it reported.

The spending is likely not to stop at housing. Bisignano said newly wealthy employees may look for homes with large garages to store luxury vehicles. It also cited repeated cases in which spending spreads to luxury cars, watches and travel after a technology company IPO or a large liquidity event.

The luxury watch market is also being cited as a potential beneficiary. Paul Altieri, chief executive of Bob's Watches, said many people choose a watch as their "first high-end purchase" after gaining substantial assets.

Inquiries are also coming in for the private jet market. Flexjet and Amalfi Jets confirmed they have recently received inquiries related to expectations for a SpaceX listing. Colin Jones of Amalfi Jets said some customers are considering booking a charter flight for a trip to mark the occasion.

Expectations of luxury spending tied to SpaceX are forming before any cash-out actually takes place. Still, industry interest is expected to continue for the time being, as a large technology company listing can stimulate not only employees' wealth formation but also local real estate, luxury goods and premium travel markets in a chain reaction.

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