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East Central SD | Great post. If you figure long term land appreciation at 5% you need to start from some sort of baseline (pick a year). Obviously 1986 would not be a good choice as land was relatively "cheap" that year. Likewise, using 2012 probably would not be a good choice as land is "expensive" today. I guess I would pick a year in the late 90's to set a baseline value. There is always the possibility that we have encountered a fundamental change in land values but that is probably unlikely. | |
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Since land is hot topic today
