Those of us living and investing in Austin continue to be amazed at the growth that is happening here. Today I picked up my neighbor from the newly minted South Terminal at Austins airport. This is something we've been longing to see as the airport just hasn't kept pace with the population growth. Cap rates in Austin have been low for a long time and many investors have skipped over the Austin market because it's just too expensive. But growth like this comes with a premium. I remember when I bought my house here in 2008, I felt like I was paying too much. That hasn't changed in 10 years. This is the quandry with low cap rates and high growth cities. You always feel like you're paying too much, but the growth rewards us long term.