Austin's already out of play for being "cool". The downtown area is stupidly expensive now (it was higher than the Bay Area before Covid--I suspect that is worse now).
One of the problems going on everywhere in the US right now is that places won't drop rent. Apparently, you can tack missing rent onto the end of your financing, but if you offer lower rent the bank holding your financing can call you up and demand cash.
This is going to totally screw up recovery as everybody will leave places empty until they're about to go bankrupt. And then everybody will go bankrupt simultaneously rather than piecemeal.
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Austin's already out of play for being "cool". The downtown area is stupidly expensive now (it was higher than the Bay Area before Covid--I suspect that is worse now).
One of the problems going on everywhere in the US right now is that places won't drop rent. Apparently, you can tack missing rent onto the end of your financing, but if you offer lower rent the bank holding your financing can call you up and demand cash.
This is going to totally screw up recovery as everybody will leave places empty until they're about to go bankrupt. And then everybody will go bankrupt simultaneously rather than piecemeal.