On Wed, 01 Mar 2006 08:43:16 -0500, DSK wrote:

wrote
.... When your farm is making less and less profit and some
developer comes along and offers you a bushel of money for it, you take it
and to hell with the farm.

Yep. Why wouldn't they?


....The economy in MI is at an alltime low and people are
leaving the state in droves because of the job market not being able to
support the population. We are in a fortunate position where we do not
have to make a low sale on our house just to get out from under it, but
many in the state will be taking big losses, especially those who bought
the over-inflated pricey real estate in the first place. The whole thing
is a sad situation...onl;y people who benefit are the devlopers and the
realtoes....



Happened to me in Oklahoma when crude and NG prices tanked in the mid
eighties. I was fortunate to more or less break even selling my house
that I had bought brand new and lived in for eight years. Many of my
friends, neighbors and people I had worked with were carrying money to
the closings to get out from under.

My Mother in law has waterfront in Florida. Value has doubled each of
the last two years. And it is real because the house is not for sale
but she has people knocking on the door making offers. It is not a
good thing unless you are flipping real estate. If you just want to
live there eventually the taxes and insurance will drive you out. I
feel sorry for people who retired on a fixed income and their dream
was to live near the water in Florida. Even though Florida limits
the amount of tax increase per year for a homstead, I expect it will
eventually drive them out.

Frank