West of Mpls MN about 50 miles on Hwy 12 | Using history as an indicator, the last time land values reset, I paid $1800.00/acre for a 80 in 1983 which was pretty much the all time high around here at the time. Then in 1989 I paid $444.00/acre for a 60 acre piece across the road from the 80.
Around here that same land would have sold for $6,000.00/acre not so long ago. If the land reset happens again to the same degree it did the last time, that same land will be worth about $1500.00/acre...again. |
Markets are giving some an education in history
