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<blockquote data-quote="Ryder" data-source="post: 192446" data-attributes="member: 663"><p>Caustic is 100 per cent correct. I can show you land right now that was $2500 or more per acre that you would be doing good to get $1500 for now. Dairy farmers went out of business in droves and land prices went with them. I have seen the same thing in city real estate a few years back A friend of mine was building apartment buildings and he figured he couldn't lose because no matter what happened people would always need a place to live. It fell down around his ears and he lost everything including his home. </p><p></p><p>The belief that land will always go up because they are not making any more is just not true. The supply may not go up, but what people can or will pay can sure come down.</p><p></p><p>The old saying, "No tree grows to the sky" is still true. If it goes up, it will go down. This is true of any market.</p></blockquote><p></p>
[QUOTE="Ryder, post: 192446, member: 663"] Caustic is 100 per cent correct. I can show you land right now that was $2500 or more per acre that you would be doing good to get $1500 for now. Dairy farmers went out of business in droves and land prices went with them. I have seen the same thing in city real estate a few years back A friend of mine was building apartment buildings and he figured he couldn't lose because no matter what happened people would always need a place to live. It fell down around his ears and he lost everything including his home. The belief that land will always go up because they are not making any more is just not true. The supply may not go up, but what people can or will pay can sure come down. The old saying, "No tree grows to the sky" is still true. If it goes up, it will go down. This is true of any market. [/QUOTE]
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