Fraud compounds woes of housing crisis. (Thanks to Heghduq for the link.)
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A reader in South Florida wrote to ask me why I had “an unrealistic view of the [investment] potential for farmland” and why I “such a strong emphasis on buying farm ground” when coastal and resort properties “have appreciated so well for more than 30 years.” I have a news flash for her: For the next 5 to 10 years, coastal and resort property will probably go substantially go down in price, but good productive farm ground is going to go up in price. The grain market will drive this boom. Land that has long laid fallow in the CRP will be going back into production–mostly planted in corn for ethanol. And every acre that is presently planted in another crop that is switched to making “corn gas” will have to be replaced with acreage elsewhere. Thus, even land in the depopulating Dakotas might even do well. Do you want a recession-proof job? Learn to be a tractor and combine mechanic!
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RBS spotted this: The Federal Reserve Releases Crisis Preparedness Video. Methinks that the banks might have some crises of their own, quite soon.
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Reader Bill N. suggested a web site that discusses some of the common mistakes people make with food storage.