68791 | beh - 12/4/2010 21:26
It seems the land market is perceived as nuts. But if ground is consistently selling for that, that is its value. Money is smart. There was someone there (sounds like a local PRODUCER) thought it was worth one bid increment less than that. The real misconception here is the lands value.
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Money is smart? All driven by greed and fear. All of these houses on the coasts were inflated and "smart money" was buying them using pick a payment mortgages.
Warren Buffett says "be fearful when people are greedy and greedy when others are fearful." |
Someone explain to me how a 1031 exchange is good for farmers...
