Best rule, buy low, sell high - can be done in any market at any time. The astute will know good value from poor value. Just have to keep timeframes in mind.
Problem with real estate are the expenses (buying and selling costs, insurance etc.) and intangibles involved, such as renovation and maintenance costs. A good piece of land attached is the best hedge against these. Many an illusion has been created by real estate agents boasting of record prices without taking into account cost of improvements.
Thanks to all those who responded last week to the student looking to invest in real estate. Great lot of advice that I've passed on to my own children. Should be some good opportunities emerging over the next few years for those who are prepared.
