Real Estate ROI

Does it pay to be a long-term owner of real estate in Santa Clara County?  According to DataQuick statistics it does.  Cumulative 10-year appreciation (1997-2007) for the county was 168% or an average of 11% annual appreciation.  At that appreciation rate a property doubles in value every 7 years.  Add in leverage and tax benefits and your return on cash invested would be off the chart.  You might say better than Google-like returns!  Jeff Stricker