Austin is the great exception among America's big cities when it comes to a decline in real estate prices, according to a report released today by Texas economist Dr. M. Ray Perryman.

In a report titled "No Time Like the Present: An Analysis of Issues Surrounding the Current Status of Downtown Housing in Austin" and commissioned by The Austonian, a 56-story luxury residential high-rise under construction in downtown Austin, Perryman asserts that Austin's downtown real estate market remains strong and projects that purchasing a home in downtown Austin is likely to be a wise investment.

"The Austin housing market, related to the rest of the country, is very strong," said Perryman, founder and president of The Perryman Group, an economic and financial analysis firm headquartered in Waco. "And for those who invest now in a downtown residence, the appreciation and returns are likely to be very positive."