I see in this thread discussions about Californians speculating on unfettered appreciation and buying in areas an hour away from the urban centers because they can't afford to buy close to where they work.  

I think half of this country learned in the last year that speculating on appreciation is like playing craps.

Maybe and this is supposition on my part the companies involved wanted to mitigate social media and negative press.. that can be in my mind the only reason they would send buyers rent checks on vacant homes.. now with the buyers who never saw them were not allow 3rd party inspection.. and all paid cash.. you can see how that would be easily manipulated.. but again I don't know if it was a Ponzi or not.. 

But that's a bit of speculation on my side.In the end both the agents got paid for the work the investor did.

Houston does not have the high speculation California has or had at one time but it does have amazing steady growth with very solid job markets to support sustained growth. 65% of Houston rents due to the large oil industry which leads to higher then normal rental amounts and nicer homes.I have spoke to several investing groups on the west coast that are specifically targeting Houston as their focus.The cost of living in Texas compared to most states is extremely low and one the few cities that you can purchase an investment home under $150k and it be a new home and have positive cashflow in a very nice area.Out of the 500 homes we manage 50-60% of our clients are from out of state and out of country and we get about 20 new properties per month from investors buying.Again I would say that where ever you go Houston or any city you first want to decide what your end goal is and what that strategy is for that goal.

So, maybe that is more speculating than investing, but I'm getting rental income on the houses and am picking up the vacant lots adjacent. 1 assemblage has 4 properties so far and another has 6.We'll see ;-)

The bill has a number of key components—including higher capital requirements, the Volcker rule (which prevents deposit-taking operations from making speculative investments), the imposition of bank stress tests (which ensure that banks can withstand a financial hit), and the creation of the CFPB—that have already been completed and implemented.

Pittsboro is really good if you're in it for the appreciation speculation.

From investopedia: "A housing bubble is a run-up in housing prices fueled by demand, speculation and exuberance.

However, this is speculation at this point.