You made a pretty compelling case for why California may continue to appreciate in the future and all of your points are valid.However, offsetting those things are the fact that the United States is facing financial collapse in the near future (if not the immediate future).

My kitchen ceiling collapsed.

If you decide to hand dig( which will take 10x longer then you think it will) make sure you bench the dirt back incase it collapses, you don't die/ get hurt.

Moreover, let's assume the dollar does collapse.

They predict a pretty epic collapse on the horizon.I would be very interested in communicating with anyone doing deals in Taipei.

@Philippe, it's good to hear that the favorable ratios are due to lack of appreciation rather than collapsing local economy.

I remember right before oil collapsed in 2008 you could easily be hired as  a Landman making $500/day with absolutely zero experience. 

Buying is the easy part, keeping great tenants in, dealing with the LTB when there are problems, having a 24/7 plumber for when a city main collapses, you need a team that can execute on all these kinds of issues and more.

So what do you do if in one of those blips, DON'T SELL, it's just that simple. '08' was the second biggest collapse in the history of the nation.

You'd be better off socking your funds under a mattress and waiting for the dollar to finally collapse.