If you want to buy for appreciation speculation, but inside the beltline, East Raleigh, South Raleigh, Southeast Raleigh, Pittsboro, and Garner, although parts of Garner are really nice and a great suburb to Raleigh as well, so in some cases you'll pay a premium.I've lived in Charlotte, Virginia Beach and other parts of Virginia, Chicago, and the coast of NC, and I can tell you that Raleigh has the most sound and balanced economy than any of those places.

I remember when the insanity speculation took over in 2004-5.

We actually build "spec", which means built on speculation.

You'll be basically speculating on appreciation. 

At that point, imo, you are speculating.

This is why it's impossible to speculate about the characteristics of a trust without a thorough knowledge of the trust governing documents, the laws of the state, or country the trust is settled in, as well as the laws of the state or country the subject property is located in.  

Bankruptcy is not something you should be speculating with.

That one was based more on the subprime loans and speculators buying multiple homes for the appreciation we were seeing here.

Land is speculative and usually not very liquid   I try to buy it at a steep discount or where I can add  value.  

It might be worthwhile to grab a sheet of paper and speculatively write out various scenarios in which you sell the house/keep the house/refinance/etc and see which one works best for your situation.