Posted by jackinok on December 18, 2012 at 06:37:08 from (162.58.82.136):
In Reply to: Farm land bubble posted by Jon L on December 17, 2012 at 22:29:56:
buying land is sort of like the stock market,you dont lose unless you sell..doesnt matter if you keep it two days or two hundred years.wish i had been smart enough in my youth to buy every acre i could lay my hands on when it was selling for $25 an acre..ive seen it go up and down many times over the years,but there is one fact that still holds true. they sure arent making any more of it. one thing you have to remember, theres a difference in building wealth,and making money. day in and day out land builds wealth,the only thing that changes is how much wealth. but it always builds. funny thing, you walk in a small town and the one always envied is the biggest landowner around. he can be literally land poor,but he has wealth. thats the difference between a lot of folks these days,one wants imediate riches so he sells his inheritance to the man building wealth. the man who sold cant wait to spend, the other calmly goes his way and uses his wealth to make more.
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Today's Featured Article - Restoration Story: 1929 McCormick-Deering 10-20 - by Randal Simmon. On July 4th 1998 my dad and I was sitting on the front porch when he said that he was going to sell his two 10-20's to a junk man. He said that the junk man was going to give him $500 for both of them but he hadn't received the money for them yet. So I went into the house and wrote him a check for $500 and bought them myself and said now they are mine. He had bought them about five years before thinking that he was going to restore them himself. After five years sitting in the barn, he changed h
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