Anything conclusions drawn here are mostly going to be speculative. 

The most common critique here is that it's "speculation" on appreciation. 

Over time investors can see higher value with land and rent growth than a high cap rate mediocre type area.Sure the mediocre area over 10,20,30 years might could turn and the investor makes it big but that is speculating and not investing.If an investor is trying that they better not make it their whole strategy but just a small part.I had lunch the other day with one of my friends.

I want to focus on cash-flow and not speculate, so I’m avoiding my home market because the numbers don’t make sense (unless you want a low cap rate class D property in this California frenzy).

For instance the bankruptcy lawyer may contest the bank's right to foreclose, but I don't want to speculate about a specific situation because there are a lot of variables and unknowns.

Staying coastal and investing for appreciation requires a mind shift from what most outside of this area preach, but it can be highly profitable and without speculation if done properly.

Now was this a bait and switch by the insulation company, or is it somehow designed into the program for other reasons we could speculate on?

It will likely still be more expensive money than the average advertised rates, but it is important to remember that private and hard-money lenders are MUCH more likely to lend on a speculative deal (rehab/etc) than traditional lenders.  

Not a speculative multi-million dollar brownstone, but quality assets that make sense in your backyard.  

There has been a lot of speculation and hopes for appreciation with projects like the Piano District, the Metro north, Ferry service, etc... coming in.