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Does this depression mean cheap land prices???

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posted on Oct, 14 2008 @ 11:18 PM
I been doing some research to eventually buy some acreage and live off the land.

I've been seeing generally in the range of $1,000-$4,000 per acre.

But since gas has gone down 75 some odd cents and everything else seems to be going down, except food, I figure I'd ask some-one who's more of an expert in this field.

Are land prices dropping???

posted on Oct, 14 2008 @ 11:40 PM
Land prices may well drop in some areas, but don't hold your breath. There is a big difference between the housing market and the real estate market. Land can usually be made productive, so big price drops aren't real likely.

posted on Oct, 14 2008 @ 11:41 PM
If there is less demand for land, prices will drop.

It depends on the area in which you want to purchase a parcel, but my guess is that for survival land, the demand right now is probably lower than before.

People have less disposable income, and therefore have less with which to make investments.

I'm just guessing but I am saying the prices are lower, although people could be doing what you're doing, in which case they could be higher.

I do know that home prices have plummeted because there is less demand for housing. The sellers must drop the price considerably to even have a chance at attracting a buyer.

posted on Oct, 15 2008 @ 08:16 AM
I would say that the 'Smart Money' has gone into buying fertile/farming acreage. People will always scale back in a depression/slump and resort to growing their own.

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