In response to:

Now May be The Best Opportunity in a Generation to Buy Real Estate

Phil from NZ Wrote: Nov 28, 2012 1:23 PM
A total "fail" for this. Read Robert Shiller's piece, "Unlearned lessons from the Housing Bubble". Urban land is NOT "in short supply"; less than 1% of the world's area is urbanised, and the price of farmland and land in other uses has steadily dropped relative to the price of urban land for decades, indicating that there is no shortage there either. The real (in income related terms) price of food and agricultural product has fallen for decades, which is why the price of land for producing it has also fallen in real terms. In any city where there are no regulatory restrictions on converting fringe land to urban use, the price of URBAN land has ALSO fallen in real terms; AND these cities do NOT have house price bubbles.....!!!!!!!

For centuries, land has been the status symbol for wealth and power. In fact, it wasn't that long ago that you couldn't even vote without being a property owner. Of course in those days, just like today, certain locales were far more desirable than others. 

When President Thomas Jefferson dispatched emissaries to France for negotiations in 1801, the resulting Louisiana Purchase treaty handed America 830,000 square miles, essentially doubling the size of the country. The $15 million purchase price netted down to just 3 cents per acre -- a bargain even back then.

France didn't know it at the time, but...

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