Housing prices put the squeeze on artists

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The escalating price of housing is driving a lot of the so-called creative class out of New York City. The city, for instance, 20 years ago was the headquarters for half of the world’s advertising agencies, but now is home to fewer than a third. To stem this brain drain, the city has proposed new housing and financing packages for people in creative fields, and might even pair artists with philanthropists to invest in buildings. more [NYT] and more [Sun]

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