"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