I'm just bounding another thought off that comes to mind after reading your comment...Other than just straight row-crop land that is probably more volatile, land prices don't ever seem to go down in value. I have been trying to buy a few pieces around our current land and it has been brutal.
A few investment groups around us have been buying and holding for exactly 12 months and flipping the land. I am sure someone more involved in real-estate can answer this officially, but I suspect that the speed at which lands are changing hands probably only means the land prices are going up. Unless there is a significant drop in grain and beef prices, the land around here is not going down in value for years (if ever).
That's just plain weird. I wonder what is driving it? It's not like people have been hoarding cash for years looking to jump on some land. Has Covid reminded people how much they like the outdoors and more privacy?I'm hoping lumber comes back to earth soon...
Its crazy what land is going for near my farm. Realtor told me they have a long, long, list of buyers but no sellers.
Lake front properties near my land are going nuts. They put high speed internet in and since covid people have really enjoyed working from their vacation homes. I'm only 3 hrs from Minneapolis and many MN residents are buying up land in Western WI. I think all the rioting , covid, politics, etc is the driving force.That's just plain weird. I wonder what is driving it? It's not like people have been hoarding cash for years looking to jump on some land. Has Covid reminded people how much they like the outdoors and more privacy?
I suppose for those of us still looking to buy some more land of our own, a lack of sellers at this point might be a good thing.
All of the above and I think right now with the government printing $. A real asset is real.That's just plain weird. I wonder what is driving it? It's not like people have been hoarding cash for years looking to jump on some land. Has Covid reminded people how much they like the outdoors and more privacy?
I suppose for those of us still looking to buy some more land of our own, a lack of sellers at this point might be a good thing.