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<blockquote data-quote="ddg1263" data-source="post: 870177" data-attributes="member: 8445"><p>I agree but land is dropping in price because people are broke everywhere. I mean it is the saddest thing I have seen in my life. I think we are really close to a full blown depression like we saw in the 30's. </p><p></p><p>Our banking industry can not take another hit to their capital accounts, and the tax payer is maxed out on their tax burden. I think things are going back to the way they were years ago where assets were valued just as much on the income approach as they are as the "market" approach. People are having to much trouble going to the bank to borrow simple home and business loans to keep running up over priced land values.</p></blockquote><p></p>
[QUOTE="ddg1263, post: 870177, member: 8445"] I agree but land is dropping in price because people are broke everywhere. I mean it is the saddest thing I have seen in my life. I think we are really close to a full blown depression like we saw in the 30's. Our banking industry can not take another hit to their capital accounts, and the tax payer is maxed out on their tax burden. I think things are going back to the way they were years ago where assets were valued just as much on the income approach as they are as the "market" approach. People are having to much trouble going to the bank to borrow simple home and business loans to keep running up over priced land values. [/QUOTE]
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