As I traveled to the West Coast in August and October to speak on several real estate and mortgage broker panels, the energy in the rooms was decidedly up-beat compared to only two years ago. Like in Manhattan, real estate brokers nationwide were speaking about the shortage of housing inventory and the reduction in their Short Sale and Foreclosure business. With both investors and first time home buyers taking advantage of low mortgage rates, little new construction in the last five years has lead to there not being enough desirable properties in prime markets. This video from CNBC shares more on this subject.