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| I want to say first that I am not some kind of Perma Bull on land prices. But Except for the very short term land is not in the same category as T bills. You know exactly what a T bill is going to be worth at maturity. If you are saying that land is over priced now you are sure questioning the intelligence of some pretty smart people. A guy that has put together enough net worth to buy $13,000+ acre land as probably done a few things right and landing in the right gene pool is not the only one. I know what the pain of the 80s was like. At the very basic level land would barely ever get bought if you expect to get a return like t bills , Land is bought for two additional reasons: 1. You can stand the short term pain. If you can pay cash the pain is really short term. 2. You expect it to go up. | |
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All you land bulls may not want open this thread; Auction results
