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N FLA | Not necessarily a response to the above, just some thoughts.
I dunno. Ive watched one of my rent houses go from 140k to 220k, to maybe 90k currently. All the while the rent has been $1000 per month. Funny how it works. Speculation and foreclosures have a weird way of driving market prices. Maybe ag land doesnt follow these trends. Is there any speculation driving up land prices? If it doesnt cash flow, then isn't it speculative? Also, I wonder what will happen to land values if it weren't taxed at low rates, say the state or county thought it should be more like $25 per acre instead of $5 per acre. You know, just to cover some budget shortfalls. That could never happen, right?
Mlebrun, when you say land never cashflowed, do you mean on a rental basis, or has there never been times when there was profit left to pay the principal and interest on an acre. I guess I would have thought, much of the past it has been that way, but sure dont know the answer.
Edited by puff33m 8/4/2010 00:25
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Land Market
