"Martin Baxter" wrote in message
...
DSK wrote:


How about real estate in general--can you show me any state in the
country
where RE values are lower than they were 20 or 50 years ago?

I'll bet there are lots of places along Rte 66, (after adjustment for
inflation).

But as you certainly noted, I said "any state," not just a few spots or
locales. For example, when the oil shale fiasco hit the skids, the towns
that grew up around the proposed strip mines died completely. You could buy
a $60K house there for 10% of the original unimproved land cost. There are
some areas in the Upper Peninsula in Michigan where the copper mines have
shut down and homes are on the block for a fraction of their build costs.
But net RE values in Michigan have continued to escalate with only minor
burbles in the upward curve. Adjusted for inflation, the aggregate land
values in Michigan are still ahead of the curve.

Max

Maxprop wrote:

"Martin Baxter" wrote in message
...
DSK wrote:


How about real estate in general--can you show me any state in the
country
where RE values are lower than they were 20 or 50 years ago?

I'll bet there are lots of places along Rte 66, (after adjustment for
inflation).

But as you certainly noted, I said "any state," not just a few spots or
locales. For example, when the oil shale fiasco hit the skids, the towns
that grew up around the proposed strip mines died completely. You could buy
a $60K house there for 10% of the original unimproved land cost. There are
some areas in the Upper Peninsula in Michigan where the copper mines have
shut down and homes are on the block for a fraction of their build costs.
But net RE values in Michigan have continued to escalate with only minor
burbles in the upward curve. Adjusted for inflation, the aggregate land
values in Michigan are still ahead of the curve.

Indeed, taken as a whole you are correct. It's really simple supply and
demand, the population continues to grow, more people want land, and, as
Will Rogers said about land, "They aint makin' no more.".

Cheers
Marty

some areas in the Upper Peninsula in Michigan where the copper mines have
shut down and homes are on the block for a fraction of their build costs.
But net RE values in Michigan have continued to escalate with only minor
burbles in the upward curve. Adjusted for inflation, the aggregate land
values in Michigan are still ahead of the curve.


Like I said, if it happens to the other guy, it's an
unfortunate aberration from the general trend. If it happens
to *you* it's a major crash.


Martin Baxter wrote:
Indeed, taken as a whole you are correct. It's really simple supply and
demand, the population continues to grow, more people want land, and, as
Will Rogers said about land, "They aint makin' no more.".


They are in Holland.

One thing that Maxprop utterly rejects about the
supply/demand situation is that in his particular case,
demand is largely created by advertising. For those who
don't believe it is possible to influence markets so
strongly, consider the relative prices & virtues of
different brands of beer.

Once the lots are all sold and the advertising goes away....
then what?

DSK

In article , DSK
wrote:

some areas in the Upper Peninsula in Michigan where the copper mines have
shut down and homes are on the block for a fraction of their build costs.
But net RE values in Michigan have continued to escalate with only minor
burbles in the upward curve. Adjusted for inflation, the aggregate land
values in Michigan are still ahead of the curve.


Like I said, if it happens to the other guy, it's an
unfortunate aberration from the general trend. If it happens
to *you* it's a major crash.


Martin Baxter wrote:
Indeed, taken as a whole you are correct. It's really simple supply and
demand, the population continues to grow, more people want land, and, as
Will Rogers said about land, "They aint makin' no more.".


They are in Holland.

Until the sea levels rise. Then there will be *different* waterfront.
So you see it's all the land developers' fault. Now they've sold all
the existing waterfront, they need to create more.

PDW