Keep Austin Expensive might become the next catchphrase for the Texas capital, thanks to its skyrocketing housing.
According to NPR's John Burnett, real estate there has become so expensive, more and more musicians are getting priced out of the self-professed "Live Music Capital of the World."
Austin has quickly become a go-to destination for young adults in search of vibrant culture, tech jobs and a laid-back atmosphere reminiscent of that old Texas pioneer swagger.
But for better or worse, while events like South by Southwest, or SXSW, put the city on the cultural map, they've drawn in wealthier residents who can afford to shell out between $350,000 and $590,000 for a two-bedroom condo in Central Austin.
"I feel like at this point there's so much momentum behind the idea of Austin being a place for artists and musicians to gather, that it's going be really hard to stamp that out," Roland Swensen, the founder of SXSW, told Burnett.
There may be some hope, however. The city of Austin has taken steps to provide low-cost community housing to its residents, and despite their being priced out, many artists are finding homes in the periphery suburbs.
Perhaps the real conversation should be about musicians' minimum wages.
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