Austin is losing its grip on the promise of high-income job growth and decent rent — with no major U.S. cities left to fill the void. Natives of Austin, Texas, know that if you used to stroll down Red River Street, you’d stumble upon a beloved music club called the Red Eyed Fly. It was a hole-in-the-wall — the type of establishment you wouldn’t want to walk barefoot, laughs Colin Pope, editor of the Austin Business Journal.