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East of Broken Bow | My dad told me way back in his time, people were talking about paying too much for land.
He tells me the stories that Grandpa told him of a family in the area that owns a LOT of land.
Turns out during the Great Depression, they had the $$, and were buying land for the delinquent taxes, getting some for $13 an acre. People were laughing, wondering why anyone would want so much land, and if they could ever pay for it.
So now that quarter section that cost them a bit over $2000 is now worth about $1 million in round numbers plus was a source of income for the family the whole time (Today's value after improvements like a pivot, but the income off the land more than paid for that).
IMO, it is hard to beat paid for land as a long term investment, as long as you can ride out the lows. | |
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Has the game changed?
