I posted last week, it is easy to see how insane Bubble's Great Land Bubble has been.
BTW:
I would love to see a graph of the annual percentage rise of US real estate versus the annual percentage increase in the US labor force. Bet a doughnut there'd be a strong correlation.
That is the home price index. Look the link to the article i posted above. There is the graph of the actual land prices. (In UK)
Or maybe I'm talking through my hat.
My intimate knowledge of UK land prices, policies, and patterns comes from some friends who, in the late 60s, bought a farm well away from everyone to get away from everyone only to wake-up and find themselves surrounded by housing developments lo these many years later.
Not happy they are.
Wishing to leave, they do.
Be damned if they'll sell out to Yet Another Developer to rape the countryside, they declare.
