SW KS, near Dodge City | 1. If we believe what "they" tell us, this run up is not as leveraged with debt as the previous run. 2. We don't have record high interest rates. (yet?) 3. There is a lot of land for sale today (good land , locally, was pretty scarce just before the last spike)
1. True... to some extent, but there's still money being borrowed.
2. Tell me the difference of interest rates going from 10% to 18% on 3K land. Now take that land and have interest go from 3.5% to 9% at 10K land.
3. That tells me that those that don't have the emotional attachment to ground have decided now is a good time to cash out. Maybe they're right, maybe they're not.
Now having said all that, if ground sells that fits your operation and it's something you can make work, just because it's expensive doesn't make it a bad buy. Doesn't mean it's good either tho. |