I think more speculative commercial will get harder to finance with loans.NNN investment grade credit tenants will still get awesome loan rates as the banks have less inherent risk in those types of deals with long term leases.

He also bought it at speculative pricing bc of the new stadium, so he paid well over market value at the time.These two duplexes have about 37.00/sq ft into them, and should double in value within the next 3-5 years, to 74.00/sq ft.

Speculative of course, but it's clear they have a vision of a much larger Sanford in mind. 

The fact that more owners will follow this path is purely speculative on my part and I may be way off base.

Most of those who say investing in CA or San diego is a speculation or appreciation only play have more than likely never invested here. 

Would love to hear any (speculative) thoughts. 

I don't think I have a solid understanding of how to speculate appreciation in the real estate market.

As such, it is a speculative investment that has no guarantees. 

I guess the GFC created that tag line.. for me personally I want to buy at one price and sell at a greater price.. if i cant then why buy it.. even if its negative cash flow.as a land developer speculator.. we are all about negative cash flow.. its the basis of our business.. but then when we hit it right we make some nice profits that exceed anything that could be made on pure cash flow with the same dollars invested and over a given time period thats why one simply has to look at IRR to get a true picture not just cash flow

So much for no cash flow in the Bay Area and speculation, blah blah blah.Another friend bought an 8-unit building in Oakland for $1.25M late last year.