"according to my realtor friend" - a reliable source of "supplies are limited" messages.
Austin experiences relatively mild boom/bust cycles. The metro area is not that big and there is still a great deal of undeveloped land so developers are always ready to build more, thus holding prices stable. The biggest problem the area faces is water supply. High property taxes of 2-3% annually offset most any gain from not having a state tax. Racial diversity is about 50 years behind most major cities.
Austin experiences relatively mild boom/bust cycles. The metro area is not that big and there is still a great deal of undeveloped land so developers are always ready to build more, thus holding prices stable. The biggest problem the area faces is water supply. High property taxes of 2-3% annually offset most any gain from not having a state tax. Racial diversity is about 50 years behind most major cities.