People want to live near downtown Austin because it is cool. It is cool because of all the cultural stuff that happens there (music, comedy, parties, education

People want to live near downtown Austin because it is cool. It is cool because of all the cultural stuff that happens there (music, comedy, parties, education, etc). Price pressure increases on the dive bars and quirky places and they close up as condos replace them. The dive bars are not replaced (who wants to live above a bar??) Downtown becomes less cool.