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Binding data between TextInput and TextArea

<?xml version="1.0"?> <mx:Application xmlns:mx="http://www.adobe.com/2006/mxml">     <mx:Panel title="My Application" paddingTop="10" paddingBottom="10"         paddingLeft="10" paddingRight="10">         <mx:TextInput id="textinput1" text="Hello" />         <mx:TextArea id="textarea1" text="{textinput1.text}" />         <mx:Button label="Submit" click="textinput1.text='Goodbye';" />     </mx:Panel> </mx:Application>