The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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From: kailuabruddah	3/1/2005 3:10:26 PM
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Those who do not study history... The strangest element of the Florida real estate industry was the use of binder boys to start land transactions and to relieve realtors of the task of standing around hot, vacant land waiting for investors... Often there was little more than a fancy entrance way and a tennis court resting in some isolated field... Forbes magazine warned that Florida land prices were based solely upon the expectation of finding a customer, not upon any reality of land value... floridahistory.org With land prices rising rapidly, many of the buyers planned to sell the land at a profit before the real land payments were due. Sometimes land buyers didn't even have enough money to pay for the land; instead they had just enough money for the binder. They were depending on the prices to continually rise. fcit.coedu.usf.edu And, there is a very good 17-page pdf on the Florida Land Boom & Bust here: polk-fl.net

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