Price increases and shortages

[Artichoke Lover]

Has anyone experienced rising land prices? Here in Texas, prices are in the stratosphere and they keep going up. Raw land in our area is now bumping $25,000 per acre. We paid $65,000 for our mobile home and 8 acres 7 years ago. We put in a lot of work, building barns, fences and improvements. We could sell it now for $250,000-$300,000 or even higher. Value? Inflation? Is our money debased that much? Is supply and demand making the land values sky rocket by galloping leaps and bounds? I think it might be a combination of all. How are young people to buy a home and meet the payment?

What are land prices doing in your area?

Land prices are going up but nothing like they are in Texas. Land is at anywhere from 3 to 10 thousand an acre here. When we moved here 7 or 8 years ago I think we only paid around a thousand and acre for land with river frontage though that does mean several acres are unusable do to being in the flood plane. I think we paid about the same as you for our mobile home. We are in a sellers market right now houses in the suburbs and rural areas are selling the same day they are listed. People are getting out of the big cities at a rapid rate after COVID.

 

[Rhodie Ranch]

We were looking to sell here and move to where my DD and @bobm are in Washington state. We were priced out and its even higher now 6 months later. We were looking at a max of 600K for a home on a min of 1/2 acre. NOPE.

Speaking of DD, she's here dropping off our Grand animals (cat and Dutch shepherd mix). She did tell me nicely that I have waaay too much food. How we could possibly eat that, she'll never know. I laughed and said since the ship in the Suez Canal is blocking everything, that wood pulp products will being going up, and think of the extra cost of all the freight that has been going around the Cape. She rolled her eyes.

Instead of my immediate normal reaction with her, I turned it into a laugh. I laughinly said that I better go buy some more TP and a couple reams of printer paper. She laughed, and I laughed. She'll be 35 in two months. We're getting along better than ever before.

 

[Rammy]

The woke will be awakened in ways never seen before.

 

[ducks4you]

Welcome to "Mediocrity." It sits right in between excellence and failure.

 

[Gardening with Rabbits]

What are land prices doing in your area?

It is crazy. A home on 1 acre over a million. I see like 10 acres for around 2 million. People are having bidding wars on land and homes. A home might be advertised for $300,000 and people will bid and pay cash for close to $400,000. Young people here cannot even rent a house or apartment. DD and husband will never own a home unless this all crashes and real estate man said the homes are being bought with cash, so no bank loan. A used trailer in a trailer park can go for $35,000 on up and just small older trailer. A 2 bedroom apartment can be over $1500.

 

[baymule]

We will move at some point. Don’t know where. DD is putting in applications at other colleges and universities, they want out of Odessa. We may go to where ever they move to. Son has 35 acres in east Texas, we might go there, don’t know. Our place here will give us a healthy kick in the bank account.

 

[AMKuska]

I read an article about this a while ago. The reason suggested in the article is that more people are seeking ownership due to the insecurity of renting. Price hikes, landlords selling, and the unpredictability of the market is driving people to buy rather than rent. Spike in demand = spike in prices.

 

[Collector]

The best seeds are the ones you plant every year or every other year.

Collector if you can slaughter a deer, you can slaughter a pig. If you don’t have a meat grinder, get one. With a bone saw and hack saw, sharp knives, you can do it. Package everything in Foodsaver vacuumed sealed bags, buy the rolls and cut your own size. Raising a couple of pigs would provide meat for you and entire family. Well worth it.

We do have a meat grinder, sausage stuffer, and a meat slicer. I also have a brother who has a full meat shop in his garage and all the cut and wrap supplies. We have all the supplies to build a grow out pen here at our house just need a couple weekends free to build it. After this broken ankle fiasco we have to reshuffle the to do list not sure where the pig pen is going to be, but probably way down I’m sure. Last year my brother was able to pick up 10, 200lb hogs at a sale of hogs out of a shutdown slaughter house in Nebraska for a mere $50.00 each.We just bought good feed and fed them out for about a month and he sold 8 of them fully processed for a mass profit. Ours was cut and wrapped and we cured and smoked the bacons and hams on our own. I was really hoping to get that hog pen built this year but it is usually the first project put off when things get outta hand around here.

 

[Gardening with Rabbits]

People who have expensive houses in other states can pay cash here and live easy. I could sell my house for over 3 times what paid and take the money to an area of the country where nobody is moving to and live like a rich person, but to divide my family up it is not worth it. My friend in Kansas said her son lives in a nice apartment 2 bedrooms for $600 a month and a lot of people moved out after getting their stimulus money to get cheaper rent. I said, CHEAPER RENT? She said, oh yes, can get nice places for $400 a month. You cannot rent a shed for $400. There are 1 bedroom places for over $1000 here.

 

[Artichoke Lover]

People who have expensive houses in other states can pay cash here and live easy. I could sell my house for over 3 times what paid and take the money to an area of the country where nobody is moving to and live like a rich person, but to divide my family up it is not worth it. My friend in Kansas said her son lives in a nice apartment 2 bedrooms for $600 a month and a lot of people moved out after getting their stimulus money to get cheaper rent. I said, CHEAPER RENT? She said, oh yes, can get nice places for $400 a month. You cannot rent a shed for $400. There are 1 bedroom places for over $1000 here.

That’s crazy to me. Here you can rent a nice 4 bedroom 3 bath house with a yard and garage for around 1,500 a month.