Thursday, August 04, 2005

"We’ll keep pushin’ till it’s understood...

....and these badlands start treating us good"

Lots of bubble experts and amateurs keep calling different speculative excesses a market top for real estate. I have read numerous articles about people behaving stupidly in this over-hyped market, but I’ve got to say, the people in this article seem to have hit a new level of idiocy.

[Bad Lands Now Hot Property

# Undeveloped -- even bleak -- parcels in a Texas county lure out-of-state buyers looking to jump into the real estate market.

By David Streitfeld, Times Staff Writer

VALENTINE, Texas— For 19 miles, most of it bumpy enough to shake your bones, State Route 2017 runs down to the Rio Grande and the Mexican border.

Drug smugglers and illegal immigrants pass through here. So do the Border Patrol agents that pursue them, and cowboys heading to a nearby ranch. No one else bothers. The land is sandy and bleak, full of gullies and rattlesnakes.

Yet this parched ground is increasing in value faster than any Manhattan duplex or Malibu villa.]



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