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NW Iowa land auction, $20000 an acre!
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ioway
Posted 12/7/2011 13:15 (#2089663 - in reply to #2089588)
Subject: RE: NW Iowa land auction, $20000 an acre!


Central Iowa
I don't know the situation but from the surface that type of business decision seems incredibly irresponsible. Let's say the land will generate $500/acre from here on out. It will take 40 years to generate the value paid and that's not including interest on the money. That is also assuming that once the value is recuperated that the asset will have not depreciated in value. It's almost hard to even fathom someone would pay that.
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