|
SW MN and Gold Canyon AZ | I am thinking the same way. With 80 acres bringing $500000, and the interest on that loan of say 20yrs and the land taxes incurred one has to say can this ever make money??
On the other hand one can buy really nice houses in the mesa az area for $100000, that were built for $250000 to $300000.
So if this housing market still falls another 10% I say how can this be a bad investment especially if one is needing a retirement house in 10 yrs anyway??
Some houses can be bought for 3% down and 20 yr loans at less than 4.5%. If you buy farmland in my area the most they will loan you is about 2500$ an acre so one needs MORE than 50% down of cash or collateral.
Somethings WAY out of wack in my opinion. | |
|
Look Who Is Buying Farmland
