Homestead mailing list

[Rob <becida AT comcast.net>]

At  1/23/2008 12:27 PM,Clansgian AT wmconnect.com wrote:


> >  >Buy land while you have urban income to
> > >pay for it. Don't be one of the many who in ten or twenty years will
> > >be saying, "why, I could have bought that land for a pittance of what
> > >it sold for yesterday." Coulda, woulda, shoulda. Live in the present
> > >but plan for the future. I know these things.
> >
>
> Can't say that that observation has a good track record.  In '03 and '04
> there was a similar hue and cry about suburban and urban real 
> estate.  Buy now,
> the rate houses are going up you will not be able to afford one in a 
> few years,
> real estate only gose up, up, up!  After all, they ain't making any more land!
>
> Is it time now to tactfully point out that there WAS indeed a real estate
> bubble, it burst, and sales and prices are all toilet bound?  It 
> wasn't local and
> it is identifed as the main cause of the looming deep recession.
>
> Many a person who was carried along with the 'it will only go up, up, up!'
> mantra in '04 and '05 are hoeplesly screwed to the wall now.

It would be tough to find out what land prices were like here back in 
1903 or 04 but I'll bet they have gone up considerable!
Heck land prices have gone up a LOT since 2003 -2004 out here, and 
back in (my part of) Minnesota too. They were still up there when I 
looked last weekend.



Rob

becida AT comcast.net
Western Washington State, USA