Much of the knowledge we learn in school is informed speculation anyway....

The cash flow from RENT is where investors make their money while they wait on speculative returns like appreciation, either forced or market driven. 

I dont mean to be speculative, but property values have also seen quite a bit of appreciation in our area.

And if we are speculating, it would not surprise me if all of the infrastructure (freeway expansion, light rail expansion, Ruston Waterfront project, etc.) and proximity to Seattle ends up attracting another large employer to the Tacoma/Pierce County area.

It is too speculative for me on that side.

I am wondering if I am better off just renting until I get to a more permanent location or if selling after a few years or renting it out after I move are the best.I currently live in a high growth city but do not want to rely on speculation.

Asking from a speculative guru student.

This leaves investing for appreciation, and that is highly speculative (as mentioned, you would be buying into an already overvalued market). 

@Brian Pulaski all this speculation is somewhat wasteful.

Until then, we're all left to speculate, unfortunately.