Land Is Booming
Rockspring Capital CEO Jim McAlister tells us Texas is seeing incredibly strong land demand and pricing, and he expects very serious upward movement in land prices over the next year or two. Look for land to sell much more quickly than youre used to.(People are getting too used to playingSim City. They want everything to move quickly.) And unusually, both the purchase and sale sides of the market are doing well at the same time. Jim tells us Rockspring put $60M into the title company in the last three months. Most are sites the firm has owned for years, and pricing was much higher than he expected on those deals.