But I also echo what many others on here have said, trying to time the market is a gamblers game. 

New Mexico oil patch country is a real gamblers paradise (I know I live there).  

@Steve McRory I'm so looking forward to more of this "Creative Financing" so more risk takers and gamblers can buy houses they can't afford, then I can buy them on the cheap in the next downturn.

I am in business and not much of a gambler. 

Most of the current crop of "gamblers" in California HAVE been hitting some jackpots, but is it sustainable? 

I feel these are incredibly unstable times and as a gambler I believe its not worth gambling until evidence suggests the market is improving when my odds are the best.

Frank Ruopoli Look on BP, spend 20 minutes on Google, read articles from (theoretically) neutral outfits like this:http//www.cleveland.com/consumeraffairs/index.ssf/2012/08/a_flurry_of_alerts_about_trave.htmlPersonally, I think it's odd hearing about these programs on radio ads during radio shows put on my "professional gamblers" that tell you that they "have a system".

If you are a gambler and like "putting it all on red" for the big bucks, then you need to be prepared to lose your shirt if the ball lands on black.

I'm not a gambler, after all :) You can cash flow in the expensive areas too with a bit of forced appreciation/value add ... it is tough but not impossible.

@James SyedRight on.I that a better way to say "investors" "going for apprecitation" is "gamblers speculating".To each their own, but I wouldn't recommend following that crowd.