1970’s recession also caused by land boom

Bold Tree
Creative Commons License photo credit: zachstern


Thanks to the many links within Steve Spadijer’s well researched article on a Betterment Levy, we bring to your attention this insightful piece from Time Magazine 1973, The New American Land Rush:

On Maine’s Moosehead Lake—frigid in winter, plagued by black flies in summer—300 ft. of water frontage is selling for $30,000, or double the price of two years ago.

In Provo canyon, Utah, raw land near the Sundance ski resort fetched $3,750 an acre in 1966. Today it goes for as much as $13,000—even though zoning restrictions prevent some buyers from building anything.

Near Orlando, Fla., a grove owner sold 30 acres of land 15 miles from Disney World last spring for $285,000. Two weeks later the buyer resold it for $375,000. One week later a subdivision developer bought it for $525,000. Several months later the developer turned down an offer of $750,000 for the property, upon which he is now constructing apartments.


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and remember – the banksters bailout is transferring public money to private hands in reward for excessive gambling on sub-primers. There is nothing on the policy frontier that will eradicate such boom-busts from occurring again.

When will we start to re-imburse the largest polluters on this planet for all their ‘hard work’ creating cancers that we then have to pay exorbitant medical fees to fix up? The high rents young homeowners are being forced into paying for the majority of their working life are the financial corollary.

Gen Z – welcome to a risk subsidised future within the most uncertain climate on record!

6 Comments

  1. liquidmelatonin28-07-2009

    the Economic Recession has been pretty hard on us. some of my friends lost their job because of the massive job cuts. i just hope that our economy becomes better in the following years.

  2. | body detox02-08-2009

    the Economic Recession made a lot of people jobless but at least there is some good progress on the economy this year. i just hope that the economy will continue to recover in the following months and years.

  3. Jacee15-08-2009

    i am hoping that the global economy would recover from this economic recession. life has been very hard with these massive job cuts.

  4. Acne Scars Treatment Info06-09-2009

    Economic recession created huge unemployment rates around the world. I think the world economy is already on the road to recovery.

  5. michael18-10-2009

    the economic recession made a lot of workers jobless. my best friend and me lost our jobs because of job cuts. i hope that our economy would recover soon.

  6. Brandon Scott29-04-2010

    Our home business was really affected by the Economic recession, we have to cut jobs just to cover up our losses. fortunately, we have already recovered. ‘

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