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Land Market Logjam
 
Most of the people in America are in agreement on one thing right now: our national economy is a mess. Those who keep tabs on the land markets across the country would share that sentiment for recreational and timberland tracts. From what I experience first-hand in Alabama and the anecdotal evidence from land professionals in other regions shows that in many locations across the country timberland sales are way down.
 
The bright spot in the land market right now is good agricultural land. Arable acreage in the Midwest and the Mississippi Delta is selling at all-time highs; bolstered by strong commodity prices and investors like George Soros betting that the demand for food will increase dramatically as the world population grows in the coming decades. 
 
I believe what is happening in the timber and recreational segments of the land market right now is akin to a major logjam in a river. We have many factors that have combined to form a major blockage in the flow of land sales that were happening from 2004 to 2007. We all know that what happens in the global economy now trickles down to our local markets. Thomas Friedman is ... more

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