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I respectfully disagree with a key point of John Burns argument.
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Posted 11/25/2012 20:33 (#2716862 - in reply to #2716534)
Subject: RE: If all honestly i think those debts are equipment purchases

Casey Iowa
Not land purchases. The tax laws that say u can first year deduct a bunch have got a lot of people buying expensive equipment they don't need and spending more than they should. The land bought in this area is mostly cash or very low leverage. I believe that to b true with most of the land sales cause banks are more scared of land crashing than equipment.
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