Real Estate Crash! ARMs due & people goin' broke!

[Peaches]

Originally Posted by Greg B

In some places land is cheap. In my hometown the prices shot up to $150k an acre. A freakin' acre! I remember 10 years ago when it went for $4k! The land is worth more than the houses for cryin' out loud.

Good thing for investor loot. When ya find a hot property you can sell fast you make a mega profit.

That's what it's doing here. 1/2 lots I could have bought for $4K 5 years ago are going for $75K now. Auctions are my favorite. Bought a lot there for $1000 a few years ago and it's worth about $85K now

Next thing I see happening where I live are tear downs. Lots of crappy houses built in the 70's. on primo land.