Hi @Kellis LandrumI grew up in Los Angeles and, yes, it's way too expensive making real estate there a risky, speculative venture.

I think it's a bit speculative to say that its the next Hoboken or JC for that matter, but it is a great town with a lot of positive changes coming in.  

I've heard speculation of home prices dropping 3%http://www.nbcwashington.com/news/local/Trumps-Budget-Could-Plunge-Nations-Capital-Into-Recession-417417303.html

But don't try to speculate on appreciation ever.

I may be wrong but saying prices will continue to climb in San Diego is speculation and speculation has cost many investors a lot of money.  

Hardship can be speculation as well.

., some speculate route to a profit).

What you describe is partially speculation too, which makes it tough to pin down a value.I am not familiar with the market nor the type of property.  

The only way I see Schenectady being worthwhile is if the casino brings taxes down, then landlord profits and home values will rise overnight, but there's a lot of debate as to whether or not that will happen, and Schenectady has somewhat of a reputation for being corrupt, so I don't want to speculate there personally, but it could be a gamble that pays off.

Better to cash out refi the appreciation and reinvest in CA or speculate in low appreciation markets.