Monday, November 14, 2011

U.S. Farmers Reclaim Land From Developers

Now that the United States is five years into this housing downturn, much of the land set for residential development is falling in value and is once again being used for agriculture. During the housing boom land was being bought from framers left and right to be turned into subdivisions. Now with the housing market at a halt, the uses of land have flipped. The land is being put back into the hands of farmers. The farmers sold their land at top dollar. Now to get their land back, they are paying a small fraction of what housing developers paid for the same land before the recession. Nothing like a short sale. For further reading: http://online.wsj.com/article/SB10001424052970204621904577018201607304964.html?mod=WSJ_economy_LeftTopHighlights

1 comment:

  1. I think it is very economically wise what the farmers have been doing. It was smart of them to get top dollar for their land because they could make more money off selling the land then farming it. If you can use a short sale to your benefit then you win and the other people lose.

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