From theJackson, MS Clarion Ledger.
While financial markets seesaw, a growing number of investors are sinking their money into another commodity: recreational land. Investors are paying anywhere from $1,000 to $20,000 an acre for land, mostly in Texas, the South and the western mountain states, that doubles as a private recreational escape and a diversifier for a long-term portfolio, Kiplinger.com reports. And the land values appear to be accelerating. Plum Creek Timber, an investment company that is the U.S.' largest private owner of timberland, says land it has sold for recreational development has gone from $2,300 an acre in 2004 to more than $4,000 now.
- Gannett News Service
You can read the more in depth article from Kiplinger here.
You can also read about one persons investment in a small tree farm in the latest issue of "Timberlines" magazine. I particularly enjoyed this one. Click on "A Labor of Love". --Brian