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The place to buy in Cali is not L.A. but Riverside county. I just spent two weeks down there and I spent a whole lot of time scoping the situation out.
While I was down there, NY Times identified Riverside as one of the top 5 hottest markets in the country, and it's easy to see why when you're there. In fact, some friends told me that developers are creating such a stress on the infrastructure with all this building that there is serious talk about creating an 8 lane freeway from L.A. out to Palm Springs.
If that happens, your investment will be virtually guaranteed, as long as it's not all the pennies you have, as KRL says, and you can stay in for a bit of time.
The other side of the coin is that many American investors are going north to major cities like Toronto and Montreal and snapping up what are, to Americans, absolute bargains. It's not just individuals who are doing this, but institutional investors, which tells you something.
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