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<blockquote data-quote="usernametaken" data-source="post: 454203" data-attributes="member: 6820"><p>I think maybe you just said it. It is not just the effect of supply and demand, which I think is still valid, but also the effect of land USE. A lot of the demand for larger parcels of rural land is no longer for farming/ranching. At least not here. What I believe has driven up the land prices here in my area are the corporate executives. </p><p></p><p>Soapbox: Years ago when I worked at a bank the guys had to have a hot air balloon. Now tell me what the heck a hot air balloon has to do with banking. And tell me how happy the lower level management was when we got no bonus that year because the profit had been spent on a hot air balloon and they tried to tell us we didn't make money when we knew dern well our numbers were the best in town.</p><p></p><p>Now it is not hot air balloons - it's 4 wheelers, bunk houses and hunting. They come in from Nashville and Atlanta and buy 300 - 500 acre parcels, pay outrageous prices and we are stuck with the " new " market value created by their demand. We used to sell the stuff for $300.00 / acre and they'd whine about lending on that. Now they are paying $3000.00 / acre for useless land that they heard someone killed a big buck on or has a bobcat on it. And the land that is not useless goes up accordingly. They go home after their adventure and we live with the prices.</p><p></p><p>I don't know what you do about it, except it feels like it must all crash and burn at some point.</p><p></p><p>That guy on the front of this site - the Pitts - he's pretty funny sometimes. His latest is on how you know there is too much money.</p></blockquote><p></p>
[QUOTE="usernametaken, post: 454203, member: 6820"] I think maybe you just said it. It is not just the effect of supply and demand, which I think is still valid, but also the effect of land USE. A lot of the demand for larger parcels of rural land is no longer for farming/ranching. At least not here. What I believe has driven up the land prices here in my area are the corporate executives. Soapbox: Years ago when I worked at a bank the guys had to have a hot air balloon. Now tell me what the heck a hot air balloon has to do with banking. And tell me how happy the lower level management was when we got no bonus that year because the profit had been spent on a hot air balloon and they tried to tell us we didn't make money when we knew dern well our numbers were the best in town. Now it is not hot air balloons - it's 4 wheelers, bunk houses and hunting. They come in from Nashville and Atlanta and buy 300 - 500 acre parcels, pay outrageous prices and we are stuck with the " new " market value created by their demand. We used to sell the stuff for $300.00 / acre and they'd whine about lending on that. Now they are paying $3000.00 / acre for useless land that they heard someone killed a big buck on or has a bobcat on it. And the land that is not useless goes up accordingly. They go home after their adventure and we live with the prices. I don't know what you do about it, except it feels like it must all crash and burn at some point. That guy on the front of this site - the Pitts - he's pretty funny sometimes. His latest is on how you know there is too much money. [/QUOTE]
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