Austin is one of several areas of the country that did not acquaintance a big run up in prices from 2001 to 2007. We were slowed bottomward by the Dot.com apprehension of 2001, and were still convalescent from that through 2004. This is an account with Randy Frederick, a affiliate of Forbes Investing Team, about the Austin market. Steve Forbes: Don't you anticipate the annihilation of the above burghal [area] will be stanched by the actuality that these aren't aloof bartering capitals but cultural capitals as well? Randy Frederick: While I'm a little too old to be admiring to it, burghal Austin continues to be a above draw for abounding people, abnormally the adolescent and apish types. There are several residential high-rise architecture projects underway, because the appeal is there--and I anticipate it has added to do with actuality culturally adorable than annihilation else. Since the University of Texas, the bigger university in the U.S., is amid [in] burghal Austin, there is a advancing night life, and abounding adolescent bodies appetite to be allotment of that. In the nine years I've lived here, there has not absolutely been a absolute acreage boom, and as a result, the absolute acreage abatement has been far beneath astringent than in abounding added genitalia of the country. (Roselind) Randy, I accepted your animadversion about Austin on the Forbes.Com - Investing Panel. Austin is blooming as a cultural capital, and burghal plays a big allotment in the Austin experience. I anamnesis activity to the closing auction of Scarborough's Department Store burghal in 1981, the aforementioned year that Barton Creek Mall opened. That seemed to be a low point in the abandonment of burghal as a retail destination. Burghal assignment armament and business groups accept formed adamantine for years to re-vitalize Austin's center. Music venues led the way, bringing adolescent bodies downtown. In 1999 we began to see the aboriginal residential construction. Today burghal Austin is a growing residential and ball district, and it gets bigger every day. I was aloof there for a little of SXSW. Music everywhere. Tell me a little about what you accept noticed during your nine years in Austin? (Randy) I am not a absolute acreage able and accepting lived in alone one added above burghal breadth (Indianapolis, IN). I accept bound comparisons. That said, back I confused to Austin in 2000, I was addled by the cardinal of people, abnormally able-bodied accomplished and affluent, who begin active in the burghal to be desirable. That trend has acutely connected and alike added in the after years. In the 30 years I lived abreast the Indianapolis area, with alone a few baby exceptions, the suburbs were usually advised added desirable.