Ben pointed out this Marketplace clip by Ian Svenonious, who DC hipsters will know as the lead singer in the bands The Make-Up and Weird War.

In it, Svenonious explores property’s relationship to music, particularly contrasting rock ‘n’ roll with electroclash and what he calls the “semi-acoustic psychedelic folk revival.” He begins by arguing that Federal Reserve Chairman Alan Greenspan’s policy of low, low interest rates caused property prices to dramatically appreciate and, therefore, push low-income people into cramped quarters. To deal with constraints imposed by space and neighbors, the noisiness and size of bands (compared to rock ‘n’ roll) declined significantly. Musicians turned to electronic drums to replace drum kits, which are too big for apartments, and bands evolved into groups of one or two only. This downsizing of the rock ‘n’ roll sound can be found, Svenonious argues, in electroclash and the folk revival.
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