Prices tend to be that way at the peak of the bubble but when it bursts, there can be some cash flow bargains. I don't think my dad ever did a cash flow statement or balance sheet in his life (never borrowed money) but he knew when land was selling at Farm Credit auctions in the 80's at $350-600 per acre it would pay for itself. What he bought, with cash, most of it did pay for itself within a few short years. On one farm in particular it grossed (not net, gross) enough to pay what he paid for it in two years because of a couple of unusually good crops. Lucky? Yes, but luck favors the prepared. He always seemed to have a built in knack for being "lucky".

John