I never speculate on appreciation, but rather focus on cash flow for multifamily properties.

Holding out for "what you deserve" is speculation.

Those people made massive returns on speculative investments.There are still great opportunities. 

There's enough bitcoin to go around if I want to speculate.

@Mike Krieg  I think this is a good speculative area.  

Markets with high appreciation rates are expensive and have low initial cash flow... that comes with the territory of having persistent limited supply and high demand ... this does NOT mean that you can't make boatloads of money, and it certainly does not mean you need to be a speculator to do it as many would imply.

If you are looking for appreciation, that is more speculation, and given how over inflated the housing market here is at the moment I advise you consider what would happen if your purchased & your value suddenly declined by %25.

This deal is speculation...not investing.My reccomendation?  

There's the speculative aspect: the house is on septic now, but if it becomes possible to tie in to the public sewer, the lot could possibly be subdivided according to zoning laws, after which half the lot could be sold for a nice sum.

It's mainly speculators riding on the appreciation freight train.Without positive cash flow investing for most people is unaffordable.