Then he narrows down to towns that have steady employment, good cap rates, and a shortage of rentals.

Still a housing and rental shortage.  

I think one of the worse things about CA is how crowded the various large coastal cities are (traffic, event crowds, pollution, housing shortage, etc.).The question was posed why invest in RE in states like CA. 

We have a chronic housing shortage here in Milwaukee, both for rent and for sale.

holiday makers visiting every year, and a shortage of rental properties.

Labor shortages have hit that industry just like everything else, so finding reliable, trustworthy, quality cleaners is a challenge everyone is facing.

For instance, there is currently a nursing shortage across the US, and traveling nurses help to alleviate it.

What happens when you add purchasing power into a product shortage environment?

All are within 30 minutes of major employers.  2) Like most metro areas in the surrounding states and regions, we've had an inventory shortage for more than 5 years.

Inflation whether due to material costs, material shortages, labor shortages, labor wage hikes, or just increase growth demands, etc won't be curtailed starting 4th quarter of next year.