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Re: Land prices (when is the crash coming.)


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Posted by RodInNS on January 15, 2008 at 20:43:54 from (24.224.246.156):

In Reply to: Land prices (when is the crash coming.) posted by Jon Kaiser on January 15, 2008 at 11:52:44:

I dunno.... but I thinka depression is coming that will make 1929 look like a walk in the park.
I think most things are pointing to a big credit crunch before too long. Times are going to get a lot harder, and I don't see that oil will come down much, if at all. China is driving the price of oil, steel and most other commodities today. They're building the infrastructure that North America built 100 years ago, and trying to do it the same way we did.... with OIL. As long as they have the money to keep financing that, they'll keep going, and the price of all of those commodities will stay high. That won't leave much room for us to move and recover...
This is going to be anothe BIG round of the rich getting a lot richer and the poor getting a lot poorer. I don't see that being indebted to land is going to help anyone survive. MAbey having a wad of cash to buy after the crash would be of some benefit though.
I don't have a terribly optimistic outlook on this... The crunch is coming.


Rod


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