Posted by NY 986 on August 09, 2012 at 12:27:12 from (67.142.178.22):
In Reply to: Re: start in farming posted by GeneMO on August 09, 2012 at 12:09:42:
I won't predict a bubble but I don't know that land will steadily increase far in to the future. At some point the Federal Government's hand is going to be forced in terms of the budget deficit. Taxes will go up dramatically and that will take most of the wind out of the investment sails. Bad for people waiting too long to take advantage of gains in the market that should have happened sooner but good for younger people looking to get started. Also a lot of the wealth in this country is tied up in the older generation who is starting to go from living life large to retirement living which means having to spend more for assistance and health care. The neighbor that went to the real estate lawyer recently to close on a small adjacent property said the lawyer is already seeing a steady drop in lake property values. Gene, if you have done fine by borrowing from the government so be it. I will not argue with another's success. However, I have seen many who have taken on heavy debt not be so lucky.
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