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| You have to recognize that land, just like anything else, is "worth" what someone will pay for it. We also all need to recognize what I've heard Danny Klinefelter from Texas repeat in his presentations 'the function of a commodity market is to cause the lowest efficiency producers, i.e. the highest cost producers to lose money until they leave the marketplace'. That's cold, but that's the truth. The guy with the hotdog stand that has to charge $7 for a hotdog while there are those on the same block selling what appears to be a similar hotdog for $4.50, simply won't be in the marketplace too long.
I don't know how they make the numbers work either, but the rest of us need to either figure that out, or figure out how to make our hotdogs taste enough better to be worth it to our landlords. | |
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Cash Rent Land Auction
