Otherwise it is all contrived speculation.

That's speculation. 

very true and it's all speculation right now.  

I still decided to sell because I wanted more control over my money and not to rely on speculation.

Our lease speculates that the Tenant is responsible for all damages. but our insurance requirement for him is only renters property.

Again, this is all speculation on my part, but I'm happy to take advantage of it whatever the reason is.    

Even putting the pricing speculation aside, but just bought something where you wanted to be before you were ready to be there?

Build your income and net worth before speculating in bare land. 

In all cases you're losing money...just in different forms.1 - Speculation is not investing...unless you have a buyer already lined up.2 - Basic math:  You start out $20k in the hole  (DP), then you get equity (virtual money, not real money until you access it) at $6k/year...so it will take you over 3 years to break even...but not really since you're started out $20k out of pocket...and have negative cash flow every month adding (or subtracting) to it.3 - So, you're happy with 100% equity...from funds out of pocket.  

As a speculation, if you believe housing prices are going to continue their rate of ascent, it might work ... but, as David Clayton-Thomas sang "What goes up, must come down"