The biggest metric that makes me think that real-estate is not going to boom is that we are experiencing a net outflow in migration, and real estate is a demographically driven market segment. 

A massive skilled blue collar segment which as some may know is "the" cream of the crop investor base.

We actually named the segments based on their average length of stay.

I was listening to a radio segment a few weeks ago and the attorney specifically said he's going after auto warranty, debt consolidations, and real estate investors. 2.

@Damien Lee you are right, you will not have that much competition in the sub 100k segment, in fact there are a lot of listings that are selling very slow or not at all.

There may be a segment of  investors that are scraping by but the numbers are not that significant. 

Have to commit a lot more investment up front and in larger and not incremental segments like surface parking.I would look at doing Contractor bays for Electricians, Plumbers, HVAC up front. 

So today, I was listening to the most recent Bigger Pockets Rookie podcast (ep. 48) and a particular segment piqued my interest.

There is still fierce competition in the multi-family segment, but I would argue that it is not as competitive as 1 unit homes since there are more first time home buyers and folks looking to start a family in the 1-unit home sector. 

Southern California has a more diverse economy and is likely to be more resilient to issues with any one particular segment.