However, heading into the fall it will be difficult to sustain that momentum in purchases because the lack of supply is already exhibiting a constraint on sales activity.

I just wonder how sustainable the current prices are.  

But, in essence, this is not a sustainable model for the investor/borrower.

All you need to do is look at steady population growth in these states and whether they have diverse enough economies to sustain - gov't centers, healthcare, and large universities are great indicators.In the Midwest you'll need to study pop. growth more regionally & by the market, e.g.

I would imagine RE investors would have been outraged by this at the time, but would there really have been a sustained boost to property values, and if so to what geographic extent?

Another challenge is keeping your balance sheet in check, and not sustaining major cash flow losses.

In California, I want to experiment with the tiny house or sustainable building designs, on a small piece of land that gives me that flexibility.

Thanks @Ian Ippolito- Yes I was aware that it is not a sustainable return - just hadn't looked into understanding why.

I strongly believe that insurance should only be used to protect oneself from a loss that one can not sustain (meaning that if you can absorb a potential loss, don't insure against it because it is statistically, and in all probability, a losing proposition).

And when we travel on our house building missions alongside 100's of other millionaires that are also supplying the wells, and building sustainable farms, and buying sewing machines, and building free clinics....