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