Think the real estate market is going to keep appreciating?

[Devin Mann]

are we waiting for a big correction? is it a bad time to start buying rental properties?

[Ned Carey]

Markets vary quite a bit. It is rare that we have a national downturn like we had in 2008~. The reason real estate agents used to say "We haven't had a down year in over 50 years"  before the crash is nationally we hadn't.  But many individual markets had crashed very hard many times. 

I think we are gradually getting back to a "Normal" market. where some areas go up some down some stay the same. They all will go through cycles but those cycles will vary.

That said we are starting to see some stupid lending practices come back so it is conceivable we will have a repeat of before but not likely. The next financial crisis will probably come from a different part of the economy (stock market for example) and for different reasons.

To address your question of what to do now, make sure you do really good deals that cash flow well with conservative projections. I continue to slowly add to my rental portfolio with debt coverage ratios.