Posted by David Krulac on January 13, 2011 at 17:31:57:
two stories both positive…
Here in PA, the latest and greatest is Mascallus Shale, heavily laden with natural gas, perhaps the largest deposit of natural gas in the world. Extration is the problem, the gas is a mile deep in the ground. But there is a mad rush to get hands on mineral rights.
a relative told me the story where his father bought 100 acres of farm land for $6,000, obviously many years ago. He has an opportunity to buy an additional 100 acres adjoining, but instead used the second $6,000 to buy a tractor. That tractor has long gone to the scrap yard in the sky, whikle the value of 100 acres is worht a lot more.
I’m not saying to NOT buy land, what I am saying is don’t buy land in this economy and market and expect to flip it.