Archives for July 2007

Land Market is Tumbling

By Mike Colpitts Real estate is proving to be a brutal investment for many speculators, who have purchased land as prices come tumbling down as much as two-thirds from the markets peak. A major U.S. land crisis has resulted from the nearly frozen market, which has the potential to cost billions of dollars in losses for investors and banks. Federal lending guidelines strictly prohibit lending on property less than one year before its last … [Read more...]