Salem is cheaper than Portland but I would caution buying "break even" cash flow properties or buying properties based on speculation / inflation.

Of course, everybody always says that investing for appreciation is speculating, and that there is only one right way to invest, their way, LOL.

Instead, I'd suggest taking a look at some of the "fringe" counties that might not get as much attention: Coweta, Newton, Fayette, etc.That way, you still get to participate in the growth and allure of Hotlanta while avoiding much of the insane pricing that has been fueled by years of investor speculation. 

Hi Account Closed, I probably shouldn't speculate too much on the status of the Midtown condos, but when I look out my office window or drive/walk through Midtown, there appears to be an abundance of condos which are already finished (within the last 1-2 years) and at least several new condo buildings currently under construction, each at different stages of completion. 

I am just speculating.

I would speculate that I have probably listened to 1,000 hours or more of rental, money, business, self-improvement, and related material over the years, time that would have otherwise just been spent humming along to the radio, gaining nothing.

Investing based on speculation is the same if its the housing market or the stock market.

, and others that are turning a corner and may have significant upside if you don't mind a little speculating (Station North comes to mind).  

I understand your thought process of buying during a recession but people have speculated about a potential recession for years now and it hasn't happened. 

Now, people speculate and hedge funds speculate better.