Banana Belt Region

[BanteringBear]

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[Yac]

Talk about the topic, please.
Yac.

[fourfirs]

You bring up some interesting points. BanteringBear. It has been my understanding though that wages have not flattened until very recently. The prices of land have most certainly been exploding for quite some time. The value of my house has increased 6 times in the last 22 years. I tend to think that the market might level off, but not for a while yet. I really don't think that land prices will fall to the extent that you describe though. Real estate values are quite a differant ball game than most investments. Everything in life is a crap shoot but I feel slightly better off with my real estate holdings than I do with most of my other investments. I worked for a trully remarkable man in my younger years. He made his fortune in real estate. He always told me that the one thing you can always count on is real estate. But he also qualified his recommendation with the premis that you do your home work. I stated, perhaps mistakenly, that land would double in 5 to 10 years. But certainly don't expect anything near a 50% decline. Land is not a renewable resource. There is only so much land and there have been and will continue to be more and more people in search of land. As a member of the baby boom generation, I feel the search for land will eventually become a novelty.
In a short four months, I have seen many parcels snapped up that I thought were somewhat to extremely overpriced. What we found was at a fair price in todays market.
And all that said, I DO NOT profess to have a crystal ball or pretend to know that I am right. I have to go on my personal feelings just like you do.
Thanks so much for your well wishes!
By the way, are you a Washington resident?

[CADRMNDANES]

Thanks for posting info on this topic. It was very helpful.