&gt; it&#x27;s easy to speculate with empty plots of land.<p>It&#x27;s easy once you pony up the cash (land loans are generally in 70-75% range, 80% is an exception, so one needs to have the 25-30%), have a credit history that&#x27;s good enough for the bank to approve the other 70-75%, willing to take a hit on the property tax (~1% annual), and will generally be okay and have other sources of income if the market were to cool down or take a dive.