I also strongly suggest to my clients not to buy on appreciation/speculation as that is only a guess.  

That's speculation of course and I'm probably talking over my head as I'm not an attorney.

Anyone on here is just speculating. 

That number is astounding and clearly shows that today's investors are not speculators.

I have a BS from Oakland University in Management Information Resources and a Masters ofScience in Administation in Resource Information Systems from Central Michigan University.My husband and I own a rental house in Michigan (that use to be our home) two lake front lots in Northern Michigan for Speculation properties, and a duplex in Birmingham, Alabama where we live now.

@Andrew Eaton Yours is an interesting and probable supposition. 

I get very nervous with all the talks and how speculative it seems to be getting.

IMO, nothing to bet on, it's a speculative business. :)

But omniscience isn't necessary; you only need to understand the actions you undertake.If you instead focus on the prospective price change of a contemplated purchase, you are speculating.

And the negative gearing is never for any longer than 12 months and I always have a plan as to how I will stabilize the asset and create strong positive CF.Between the stocks and the negative gearing the game encourages speculation - we should all take this with a grain of salt when transferring the rationale to real life.