johngonole

Conference Call Highlights: Who Will Buy Land?

In Florida anyway land prices still have much further to fall. In Alachua county we are still about 15000 - 20000 too much for a one acre lot versus the prices in 2003 - 2004. Alachua county still has low unemployment but I'm starting to see more empty commercial buildings. That said looking around Florida land prices seem to have held up more than finished house prices. I still think land prices will fall. That is more an opinion than something I've rigourously researched. That said there are plenty of Mom and Pop developers under water doing just what coin miner recommended above. I can name three large developement off hand that came to market just when demand dried up. Lots of lots for sale while interest is being paid on debt. At same time prices are still way too high to garner any interest. I'm talking about a few hundred lots and nothing sold at all in 2008. Nothing Zip zero. Prices must come down.