Posted by Oldoaky on October 15, 2008 at 10:23:36 from (66.172.246.155):
In Reply to: OT land prices posted by MoMike on October 15, 2008 at 09:33:15:
You know I scratched my head when land sold for 300. then up to 1000. always have. now at 6000. i am just about bald. If you have the money or a large part of the price, you are probaby better off with it in land then a bank. To answer your question how can they make it pay, i really dont know. If it can be rented for 3-4 percent of the $6000. that would be 180.to 240. and acre less taxes of course, income per acre..If the interest rates go up to 6 percent then you are stuck(360. per acre rent.) I like my money in cd's. With $854,000. dollars I can get better interest rates then most of the smaller deposits of 10-20,000 dollar cds. Security is a big part of life now days.
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