And there is no shortage of material!

Here in Charlotte, there is a major housing shortage that’s turned into a big-time seller’s market.

Makes sense, but I would say most single family sells vacant for some reason, most multi sells occupied.Also there is an inventory shortage, so that means retail buyers who will live in the property will often want to pay more than investors.Maybe the other rub is, as an investor if you have a nice sweet property that is occupied and cash flowing like you want, do you want to give that up? 

As inventory has a shortage, these properties are moving eastward and competition has continued to fuel property value increase.

People will squeeze in with friends and family members to make it through hard times, but the shortage will continue unless they drastically ramp up new home construction.

However, in the case of CA, they have been holding for decades ... there has been a chronic shortage of housing and the conditions that cause that are not likely to go away ... the weather is nice so lots of people want to live here (strong demand), the economy is diversified with high paying jobs (strong demand), you can't build into the ocean (limited supply), there are practically no empty buildable lots unless you go way inland (limited supply), environmental and strict building regulations make new construction difficult/costly (limited supply) ...