So I got a condo in SD at a nice short-sale price, about 25-30% below current market. Questions are should I:
(1) Rent it — can easily do an 8.5% cap after repair costs.
(2) Rent it and mortgage it to the tits, attempting to use the extra equity as a down-payment to buy something in NJ, where foreclosure chickens are finally coming home to roost, en masse. Braaak! Braaaak!
(3) Sell it and use the nice profit to buy something bigger and even better cash-flowing on the East Coast.

As far as Zimbabwe Ben and friends — asset/stock prices can fall even during a period of QE. Look at Nikkei, down 7.9% on Thursday. Hopefully, US markets will be hit with a similar awesome shock in the next few months. It would be fun to watch, especially from a vantage point in NYC.