Looking 'where' to invest in real estate?
Stay away from luxury properties, because they won't command enough rent to cover your equity investment. And working-class neighborhoods will continue to have job losses--though small, easy-to-manage multifamily properties in close-in areas can be opportunities. I would buy mid-priced houses in areas with good schools, transportation and job growth. When the market improves, your tenants may want to buy the property.
- R. Donohue Peebles via Wall Street Journal