Any Appreciation Investors Out There?

[Wilson Cheung]

About 10 days ago, I started a thread comparing investments in Cash Flow versus Appreciation properties.  The response was overwhelmingly in favor of Cash Flow.

Are there ANY investors investing for appreciation out there?  If so, I would like to hear why you chose this path?  Secondly, most appreciation properties are in regions that are expensive (i.e. San Francisco, Silicon Valley, Boston, DC, NY, etc.).  This would mean a less diversified portfolio.  Is this a better option?

I am very intrigued.