Florida is down almost 15% and Texas is following the same path.I bring this up because at a recent meetup some investorswere telling me they are willing to pay full price to beat the competition.That's an insanely bad move right now unless you're willing to come out of pocket to cover expenses to try to keep those houses afloat.Stop speculation for the love of the real estate gods STOP.The only time you lose money in a real estate crash is when you sell in bad timing...BUT you must remember that deals are only deals depending on how they were BOUGHT, not how they were SOLD.Heck, even in Denver the smartest investors I know are buying at even deeper discounts because they know DOM are going to be longer than expected.Get better at sales, get better at marketing, don't be romantic on any one market and we will survive. 

If one thinks of these as individual real estate portfolios rather than as speculative stocks, and therefore has the ability to ignore short to intermediate term market fluctuations, I believe  they can offer a superior investment opportunity for passive real property investment. 

Land is more speculative and market-driven.

Built in density with no speculation. 

A large number of them are desperate to sell because speculative land purchases are for the most part dead.  

The term spec home usually refers to new builds that are built on speculation (i.e. built with the hope/plan of selling it to a buyer than has not been identified yet, after construction is finished) [Though maybe there are regional variations?

Call me contrarian but I say BTC is in a speculation bubble, of speculation supporting speculation.

Real estate flipping can be very speculative if you are not familiar with the market.

Gold is to speculative in my opinion. 

I forget all the of details in O&G, but like real estate, you can range from hugely speculative to stable investments, with returns to match.