Homestead mailing list

[Gene GeRue <genegerue AT ruralize.com>]

On Oct 17, 2008, at 10:41 AM, bob ford wrote:

> But, in looking in selling arenas (of this type property) of which I  
> am familiar (such as united country for example); I just don't see  
> the real estate decline (bloodbath, really) being reflected in  
> asking prices.  ....bobford

Difficult economic times parallel historic back-to-the-land movements.  
Rural land owners are more loathe to sell than urban house owners. So  
rural real estate price decline may well be delayed. But it will come  
as the recession worsens because there will be many rural property  
owners who can't leave their city jobs--as long as they last--but need  
the dollars. As unemployment rises, more will sell whatever they have.  
I am unaware of any regional patterns thus far.

I advise resisting the urge to make price a top criterion. Buy what  
you can afford. Homestead land should not be viewed as financial  
investment; it should be viewed as sustainable home.