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Not sure where you live, but California is still way to inflated. I bought back in 2000 and made a killing but my place is way over priced in my opinion. I am going to look in Austin, Texas in a few weeks since the prices there are really low and it seems like it is going to give me a great return. Phoenix too, my buddy is buying a huge house for less than 300k for investment.
You should definitely get in the real estate game, it just might not be for your own home. If you have cash to put down so money find a developing area and get in on the ground level.
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