Utah and CO are pretty expensive now vis-a-vis the rents (although no where near San Diego). In TX you can still get 100x rental, although from what I’ve seen many of the new communities are full of investors and have many units for rent. I am still waiting for one of my SFH to rent in TX. But in MS or LA, I practically had tenants by the time I closed. There is a real shortage there — not only for displaced people from Katrina, but for workers coming in for reconstruction. I don’t believe that these very high rents will last forever, but since I needed a place to park some equity, it’s nice to get some cash back out while I’m waiting out the bottom of the SoCal market.
