Re: Land prices

Posted by Kelly C on March 20, 2004 at 09:37:00 from (63.171.43.140):

In Reply to: Land prices posted by Jonathan on March 18, 2004 at 16:10:07:

I just purchased 25 acres 30 mi north of me. The only reason I got it was the fact the prices are rising so fast that it does not pay to wait.
6 years ago I could have gotten 25 acres right next to me for $1500 a acre and the land I just got would have been $500 or maybe $700.

Now that 25 next to me would be $80,000.00 wile I paid $2000 an acre for the 25 I just purchased.
Figured I better do it now. Cant save fast enough to over come the price increase.
The only thing that worries me. I belive all the price crap is tied to the interest rates. If the rates go back up watch for a big drop in land prices as no one will be able to afford high priced land with high interest rates.

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