Austin, TX
The way we were: An old video captures Austin during the challenging year of 1986
In a metropolis that appears to expertise fixed development nowadays, you could be shocked to study that not so way back, Austin had its personal financial struggles.
For those who lived in Austin in 1986, it’s straightforward to really feel nostalgic about scenes like town skyline with just a few tall buildings, not a lot visitors on the freeways, or the outdated Mueller Airport the place jetliners had been touchdown at what appeared like just a few toes above the visitors on I-35.
However in comparison with our boomtown of in the present day, it is likely to be exhausting to imagine that in 1986, Austin had a troublesome time getting individuals and companies to maneuver right here. So metropolis officers put collectively a breezy promotional video, a type of infomercial about what made Austin a particular place again then. The video has been archived within the Austin Historical past Middle movie and video assortment.
In Austin in 1986, the median value of a home was round $85,000. You can purchase a brand new Ford Mustang for about $7,500 and replenish the tank for $13.
And whereas the video paints a sunny image of town, the mid-1980’s was a time of financial hardship in Austin. Falling oil costs within the 80’s broken the Texas financial system. Lots of the monetary establishments in Austin had been declared bancrupt. Development nearly got here to a standstill. This time interval is thought to longtime Austin residents as “The Bust.”
After all, no point out of that within the promotional video, and issues did finally flip round. Who is aware of? Possibly the video even helped persuade companies to re-locate right here.
By the 1990’s the “bust” was a “increase” – and now 37 years after this video-vision of a mid-sized metropolis trying to develop, it’s a “increase” with no indicators of letting up.
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