Posted 11/17/2012 13:19 (#2702215 - in reply to #2702193) Subject: Re: Can anything stop this land market???
1. True... to some extent, but there's still money being borrowed. Agreed.
2. Tell me the difference of interest rates going from 10% to 18% on 3K land. Now take that land and have interest go from 3.5% to 9% at 10K land. No difference, just trying to indicate that interest was not higher "yet"
3. That tells me that those that don't have the emotional attachment to ground have decided now is a good time to cash out. Maybe they're right, maybe they're not. I think you're right, emotional attachment fades with each generation. Also, current tax structure makes it much less painful to turn Dad and Mom's hard work into more cash making the emotional attachment even more insignificant. And finally, I am not sure the height of the frenzy is here yet. If land for sale gets very scarce, that may be an indicator that the top is in.