The Briefing Room

State Chapters => Texas => Topic started by: Elderberry on March 31, 2021, 03:37:12 pm

Title: People are snapping up rural properties during the pandemic
Post by: Elderberry on March 31, 2021, 03:37:12 pm

Houston Chronicle by R.A. Schuetz 3/31/2021

The pandemic-fueled desire to get out of cities drove city-dwellers to rural Texas, sending the value of land transactions to a new record in the last three months of 2020, according to the Texas Real Estate Research Center at Texas A&M.

The 1,103 fourth-quarter land transactions spiked 29 percent compared to the year before. Land prices rose 3 percent to $3,064 an acre.

In all, 552,707 acres, with an aggregate value of $1.69 billion, traded hands.

“Taken together, the third- and fourth-quarter results signal an active and rising market with strong demand for land in most areas of Texas,” said Charles Gilliland, an economist at the center who has studied state land markets for 40 years. “Currently, market professionals report a flood of interest in land purchases.”

More: https://www.houstonchronicle.com/business/real-estate/article/People-are-snapping-up-rural-properties-during-16064948.php (https://www.houstonchronicle.com/business/real-estate/article/People-are-snapping-up-rural-properties-during-16064948.php)

Title: Re: People are snapping up rural properties during the pandemic
Post by: thackney on March 31, 2021, 03:51:28 pm

I was so grateful for living rural when this started.  Other than loosing the commute, church and going out to eat, life changed very little for us and mostly for the better.  The garden got bigger.

My apartment dwelling daughters moved back in for a few months when their schools went 100% online (one teacher and one student).  Now both back in person in the classroom.

Easier to stay sane getting on the 4 wheeler, shooting in the pastures, etc.

Title: Re: People are snapping up rural properties during the pandemic
Post by: IsailedawayfromFR on April 01, 2021, 05:19:34 pm

Land is the great financial counter to the impending inflation we will have in all financial instruments.

I have steadily been transferring 401k and IRA assets to land positions in anticipation of the depression we will have following the current over-reach and collapse we will have shortly.

Title: Re: People are snapping up rural properties during the pandemic
Post by: berdie on April 01, 2021, 07:51:22 pm

Interesting. Maybe this is why I am getting massive amounts of junk mail and phone calls (from real people) wanting to purchase my property?