But the market dynamics will change, hopefully to become more favorable.

FHA loans used to be consistently more expensive rates (by about 100 basis points or so) but they are about 50 bp cheaper with the recent MBS dynamic. 

I think I am going to reconsider this area and come back when I have enough experience since it seems like a more complex area in terms of its dynamics.

My larger commercial stuff and apt buildings will probably get 1031'd into a less expensive market in 2018.The market dynamics that are causing the froth this time around may be different, but the graphs are alarmingly similar like you mention.This is more of a supply/demand, low inventory bubble than a crazy money supply bubble due to lax underwriting and CDOs of the GRC days, but there are definitely similarities.  

I totally fell in love with Hoi An, Da Nang was so dynamic and Nha Trang was so relaxing.  

This concept is so dynamic even for real estate investors.

@Marc RobersonWhile rent to price ratio is a useful metric, I’m not certain it should be the primary criteria.In my experience, higher rent to price ratios are found in “slower” less dynamic markets - higher rent to price ratios are found in lower quality properties with financially weaker tenants which generally increases vacancy & credit losses and higher repair and maintenance expenses.

Interesting dynamic here.

For this they charge 7%, or for 9% the do dynamic pricing and give your guests a small welcome package.  

I still think that CA is a dynamic market with the right buy can be a nice long term investment.