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Southwest Illinois | Markets are cyclical. I recall in the 60's we bought ground and everyone said we would go broke. Heck at the time we could cash flow it. Then all of a sudden in the late 70's and early 80's everyone decided they should buy. We'll we started buying more in the late 80s and while at my age I'm not excited to buy 10K ground in this market. It may go to 15 or 20 who knows, but it will come down at some point. No market has every sustained a lifelong rise in price without a setback. Stocks, commodities, whatever. The best advice is to never go all in at once. 3.5% is a fair return at best. You can get good tax free bonds at 5% or better and even short term CD's pay 3-4% so unless you get higher rents in the future or capital appreciation 3.5% is actually pretty marginal.
Edited by Lookingglass 9/24/2008 16:27
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Land sale prices........HOLY CRAP............
