If you can invest in the Bay Area, should you?

[Dan F.]

I'm curious for those who have investments and/or are investing in Bay Area properties. The price for entry is high, but assuming you've got enough capital to get into the market, is it still worth buying in the Bay vs. elsewhere (e.g. elsewhere in California vs out of state). I'm asking from the perspective of maximizing returns. Getting positive cash flow seems near impossible here so investing here might be making bets on appreciation...

-Dan