My money would be on rental property in slow and steady growth areas around the country that have never seen a boom.
You cannot expect crazy appreciation in these markets, but you can buy rental property that will cash flow nicely and provide depreciation at a much greater benefit than So Cal due to the dwelling value (vs the land)
With 25% down payment, a 5% appreciation rate offers a 20% (gross)return on investment, even if it’s a break even on cash flow.
There are many parts of the country that offer affordable units.
There is always a risk, but I’d be happier in rentals than in stocks for the long term.
The stock market is nothing more than gambling and a legalized pyramid scheme, with winners and losers.
