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Here Is The Dollar Value Of Your State's Land

Tyler Durden's picture




 

When it comes to estimating the value of the US economy, the math is relatively simple (at least according to economists) - it is the sum of the value added outputs of every class of enterprise, which is better known as the Gross Domestic Product. Likewise, when it comes to calculating the value of assets, whether financial, such as stocks, or real, such as one's house, the best representation is through the markets, i.e., a clearing mechanism that reveals what someone is willing to pay for such an asset.

But what about the value of just the land one's house sits on? Or all the land of the state, or the entire United States?

That is the answer that Dept of Commerce economist William Larson set off to find out. His answer: a whopping $23 trillion (as of 2009), more than $5 billion greater than the entire US GDP. That is the BEA's estimate for the 1.89 billion acres of land that make up the 48 contiguous states of the US and the District of Columbia. The number is a land estimate only and excludes any improvements such as buildings, infrastructure and bodies of water. It is also down about 24% from the prior peak-bubble high just over $26 trillion hit in 2006.

How did he make his assessment? According to the WSJ, Larson's calculation used satellite images to determine each type of land, including farms, forests and developments.

For undeveloped land he used comparable farm-land values to estimate prices. For developed land, he relied on estimates of land quality, home values and property attributes within a given Census tract. Larson believes his values are correct within a 10% margin of error.

Developed land is typically sold in a bundle with buildings or structural improvements, and it can be difficult to disentangle the two.

 

Undeveloped land in rural areas can be even trickier to price because it’s not often bought and sold . For some federal land acquired in the Louisiana Purchase, the last transaction was in 1803, when the seller was a fellow named Napoleon.

 

“Land has long been recognized as a primary input in production and as a store of wealth,” wrote Mr. Larson, an economist at the Federal Housing Finance Agency. “Despite its fundamental role in nearly all economic activity, there is no current and complete estimate of the value of the land area of the United States.”

Furthermore, the analysis doesn’t account for the changes in value due to the shale-gas activity in the Midwest and elsewhere.

Here are the more notable findings from his paper, via the WSJ:

  • The federal government owns 24% of all land, worth a collective $1.8 trillion. (That’s 8% of the country’s total value, or around 10% of the total outstanding federal debt.)
  • Just 5.8% of U.S. land is developed, but that land accounts for 50.7% of the total value.
  • Almost half, 47%, of U.S. land is used for agriculture.
  • Besides New Jersey, three other states have land worth an average of at least $100,000 an acre: Rhode Island, Connecticut and Massachusetts. At least a quarter of the land in those four states is developed.
  • Land in 24 states, including Wisconsin, Texas and Maine, is worth less than $10,000 an acre, on average.
  • In Nebraska, 92.7% of land is used for agriculture, the most of any state.
  • Nevada has the largest share of federal land, covering 86.8% of the state. Connecticut has the least, just 0.1% of the state’s area.

As for the key answer, namely "what is the dollar value of my state", there are two answers. One is the total absolute value for the state, shown on the table below, and which has California, Texas and New York in the top three places...

 

... or the average value per acre in any given state. Clearly there is a substantial difference.

 

As laid out on a map:

One caveat: while D.C. is clearly the smallest evaluated territory, at just 40 acres, it has the highest value per acre of any US state: some $1.05 million. So take the above findings with a grain of salt.

Source

 

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Wed, 04/22/2015 - 20:44 | 6020421 NoDebt
NoDebt's picture

Yeah, but think about the maintenance and taxes on that little parcel.  No thanks.

Wed, 04/22/2015 - 21:56 | 6020605 doctor10
doctor10's picture

Its worth precisely what someone else will pay.

 

And since Americans are less that 5% of the worlds population, what  95% +of the world can and would pay is gonna leave a whole lotta "collateral shortage" racing stripes in the bankers shorts.

Wed, 04/22/2015 - 22:15 | 6020667 Stuck on Zero
Stuck on Zero's picture

AmI wrong or is our balance of trade deficit the equivalent of selling off two small states every year?  Also, isn't the total worth of all the property just a bit less than the acknolwdged national debt?

 

Wed, 04/22/2015 - 22:31 | 6020713 Lets Buy The Dip
Lets Buy The Dip's picture

Great comment. Everyone keeps saying this market is about to crash, what a load of crap.

Have a look at this guy from the US, his calls on the market have been killer and rediculously accurate ==> http://www.bit.ly/1fMcakI

He is saying we are about to ROCKET higher on the stock market! And to think I listened to those dummies from CNBC say the EARNINGS season was gunna be HORRIFIC!!! those buggers….I have been had yet again!! Pack of liars….pissed me off!

Thu, 04/23/2015 - 01:45 | 6021031 TheReplacement
TheReplacement's picture

He might be exactly right.  Imagine, aapl @ $10,000!  Of course, a 4 Pc McNugget Happy Meal made of 100% wood pulp will be $250 if that happens.

It is called money printing.

Thu, 04/23/2015 - 02:49 | 6021080 giggler321
giggler321's picture

You cant talk about the now and forgot inflation.  It would be a 1 Pc McNugget Happy Meal  ;)

Thu, 04/23/2015 - 03:12 | 6021096 Occident Mortal
Occident Mortal's picture

The author is claiming that DC is just 40 acres?

 

What is he smoking?

Thu, 04/23/2015 - 03:30 | 6021111 Deathrips
Deathrips's picture

Oh My Fucking GOD!!!!

You meant they are inflating public asset values to borrow more!!

 

Please tell me this isnt true!!!

 

If you build it, they will fractionalize lend against it....with interest.

 

RIPS

Thu, 04/23/2015 - 01:38 | 6021025 TheReplacement
TheReplacement's picture

The US of A is only $5T away from being fully leveraged (public, not private).  Think about the implications.

Thu, 04/23/2015 - 04:52 | 6021145 sessinpo
sessinpo's picture

Except when it comes to property taxes. Then the local government likes to say your land is worth more, thus you get taxes more.

Thu, 04/23/2015 - 07:05 | 6021219 fzrkid
fzrkid's picture

Value is all a perception. To me DC is worthless. Now maybe some fertlie land with natural springs for water is another story, that I will pay for.

Thu, 04/23/2015 - 09:11 | 6021553 mrdenis
mrdenis's picture

Yep ,I agree I live in NJ ...the taxes are killing Joe the plumber ,and now after Sandy the 1% are buying up beachfront properties at prices that rival NYC .

Wed, 04/22/2015 - 20:46 | 6020424 spinone
spinone's picture

This is a worthless map.  The value of land is much more localized.  For example, land values in all of NY are skewed by Manhattan. 

Wed, 04/22/2015 - 20:51 | 6020434 Big Corked Boots
Big Corked Boots's picture

Dude, you think too much.

Sheep up and dumb down.

Wed, 04/22/2015 - 21:32 | 6020537 holdbuysell
holdbuysell's picture

"Sheep up and dumb down."

 

Now that's funny. And a good "Keep Calm" theme:

Keep Calm

and

sheep up

and dumb down

Wed, 04/22/2015 - 22:22 | 6020682 A Nanny Moose
A Nanny Moose's picture

Can I get that in a bumper sticker?

I like "Sheep The Fuck Up and Dumb the Fuck Down" better. Might not fit.

Thu, 04/23/2015 - 01:47 | 6021032 TheReplacement
TheReplacement's picture

As seen on a bankster's bumper:  "Fuck the sheep up and down!"

Wed, 04/22/2015 - 20:56 | 6020443 falconflight
falconflight's picture

I don't know...I was a  just looking a couple of weeks ago via realtor.com at housing in upstate NY, and I saw many small houses on an acre or two selling for around 300k.  And the taxes were outrageous, especially considering those rural homesteads aren't getting kack in services.

Wed, 04/22/2015 - 21:16 | 6020497 i_call_you_my_base
i_call_you_my_base's picture

But there are bargains in Rochester! Enjoy!

Wed, 04/22/2015 - 21:27 | 6020527 Big Corked Boots
Big Corked Boots's picture

There are 10,000 vacant dwelling units in Buffalo, NY. Yours for the taking.

Buffalo is like Detroit, without the museum. They both have big black fists, though.

Wed, 04/22/2015 - 22:48 | 6020755 knukles
knukles's picture

Just think of all the Illegal Immigrants (there, I fucking said it) that could be housed in them two cities.....

Thu, 04/23/2015 - 01:48 | 6021034 TheReplacement
TheReplacement's picture

that will be housed

Do try to get it right.

Thu, 04/23/2015 - 01:54 | 6021039 zhandax
zhandax's picture

Knucks, I don't know how familiar you were with the real estate glut around the Lake Ray Hubbard corridor out I30 east of Dallas in the build-up (pun intended) to the S&L crisis.  I had a banker suggest giving each illegal $10K and a house just to get some bodies in them.  I suspected he had been stuck with some of the loans and I don't recall his using the term 'illegal'.

Wed, 04/22/2015 - 22:49 | 6020758 NidStyles
NidStyles's picture

Funny how a symbol against violence is pushed by the most aggressive lobbyist groups on the planet.

Thu, 04/23/2015 - 10:03 | 6021772 Grinder74
Grinder74's picture

Why weren't they razed and trees planted in their place for Earth Day?!?!?!?!?!?!??!?!?!?!?!?!?!?!?!?!?!?!?

Wed, 04/22/2015 - 20:50 | 6020431 max2205
max2205's picture

I want my ten minutes back..?

Thu, 04/23/2015 - 00:57 | 6020938 August
August's picture

This is the New ZH,

Always skim; read about 10% for content.

Wed, 04/22/2015 - 20:51 | 6020433 falconflight
falconflight's picture

The tally makes sense to me.  The more regulated the State...land use, conservatory easements, ect., the higher the value (expense).  It follows the cost of housing quite well.  The Progressives are always queefing about "affordable housing," yet those polices espoused invariably result in grossly mis-allocated housing prices.  Their power and money grab is via the housing regulator/slush fund purveyors, specifically HUD.

Wed, 04/22/2015 - 20:54 | 6020436 ebworthen
ebworthen's picture

It should be reversed because all the highly valued places are infested with an excess of dopey humans.

The undervalued places have open spaces for growing and raising food.

Thu, 04/23/2015 - 03:03 | 6021087 Farqued Up
Farqued Up's picture

But, no water. Sigh.

Wed, 04/22/2015 - 20:53 | 6020437 Dadburnitpa
Dadburnitpa's picture

DC is "40 acres". Well, those must be some big ass acres.

Wed, 04/22/2015 - 20:56 | 6020444 Thirst Mutilator
Thirst Mutilator's picture

You beat me to it... The friggin White House lawn is prolly 40 acres.

Wed, 04/22/2015 - 21:09 | 6020479 Oldwood
Oldwood's picture

High value due to revenue producing capacity...ROI

Wed, 04/22/2015 - 21:45 | 6020569 NoDebt
NoDebt's picture

The actual area of DC is 68 sq. miles.  I don't know where the author got 40 acres.  40,000 acres, maybe?  

Wed, 04/22/2015 - 22:00 | 6020623 Doug
Doug's picture

Very close.  There are 640 acres in a square mile.  The area of DC is therefore approximately 43,520 acres.

Wed, 04/22/2015 - 22:24 | 6020691 A Nanny Moose
A Nanny Moose's picture

What an abject waste of swamp.

Wed, 04/22/2015 - 21:50 | 6020585 Wahooo
Wahooo's picture

And there's a big eared mule there, too.

Thu, 04/23/2015 - 01:57 | 6021044 zhandax
zhandax's picture

You mean Moochelle or the party?

Wed, 04/22/2015 - 21:23 | 6020516 Buster Cherry
Buster Cherry's picture

40 acres and a mule....

Wed, 04/22/2015 - 21:54 | 6020595 GeezerGeek
GeezerGeek's picture

Plenty of mules in DC. Way more jackasses, though.

Wed, 04/22/2015 - 21:26 | 6020525 bonin006
bonin006's picture

It's about 40,000 acres. I guess the author can't be bothered with little details like three orders of magnitude.

Wed, 04/22/2015 - 21:47 | 6020572 NoDebt
NoDebt's picture

I just noticed you beat me to it.  

640 acres in a square mile.  68.3 square miles = about 43,000 acres.

Thu, 04/23/2015 - 08:30 | 6021392 Atomizer
Atomizer's picture

Another common core math student who has successfully graduated. 

Wed, 04/22/2015 - 20:55 | 6020439 Thirst Mutilator
Thirst Mutilator's picture

DC = 40 acres?... Horseshit!

Wed, 04/22/2015 - 23:06 | 6020789 turnoffthewater
turnoffthewater's picture

That's okay, Rome was small too

Wed, 04/22/2015 - 20:59 | 6020452 Dreadker
Dreadker's picture

Clearly not based on primary wealth values.... good luck getting those price in California in 2-5 years... I anticipate climate refugees heading East in the coming years... Africans heading to Europe are the canaries in the coal mine on that front...

Thu, 04/23/2015 - 01:51 | 6021036 TheReplacement
TheReplacement's picture

No doubt the Africans are not running from widespread violence and poverty toward the welfare state and perceived luxury.  Nope.  It has to be the climate.

Wed, 04/22/2015 - 21:01 | 6020457 A Lunatic
A Lunatic's picture

Sell California to China before the bottom falls out........

Wed, 04/22/2015 - 21:09 | 6020478 Dreadker
Dreadker's picture

Or convince the human race that the planet is not a commodity.... lol who the fuck am I kidding... that'll never happen....

Thu, 04/23/2015 - 01:52 | 6021038 TheReplacement
TheReplacement's picture

So you don't mind sharing your living space (not really yours is it) with a couple hundred nice people from parts elsewhere.

Someone call Obama, we got someone who wants to put the illegals up for free!

Wed, 04/22/2015 - 21:03 | 6020466 deflator
deflator's picture
  1. 68.3 mi² (176.9 km²) Washington, D.C., Area
Wed, 04/22/2015 - 21:05 | 6020469 silvertrain
silvertrain's picture

if you dont have good water sources it isnt worth shit...

Thu, 04/23/2015 - 01:54 | 6021040 TheReplacement
TheReplacement's picture

There isn't much water in the middle east but people have been fighting hard for it for a long time.  Something about a guy named Earl.

Wed, 04/22/2015 - 21:08 | 6020471 Ness.
Ness.'s picture

In the glorious flyover country of Illinois tillable acreage sells for $10k/acre.  Just blocks from where the Prez calls home you can buy a lot for $1.   

http://www.npr.org/2014/07/02/325803705/for-sale-vacant-lots-on-chicago-...

Lest we forget that Big O's realtor/bundler (Tony Rezko) is sitting in the pokey.  

http://www.wnd.com/2011/04/289529/

 

Can you spare some Change for my Hope?

Wed, 04/22/2015 - 21:59 | 6020622 SeattleBruce
SeattleBruce's picture

"Lest we forget that Big O's realtor/bundler (Tony Rezko) is sitting in the pokey."

And somehow, with all the crud and rot all around him, obummah is still in the White House...emblematic of our nation somehow...

Thu, 04/23/2015 - 01:54 | 6021041 TheReplacement
TheReplacement's picture

Wait until you see the list of pardons on the last day.

Wed, 04/22/2015 - 21:06 | 6020472 FreeNewEnergy
FreeNewEnergy's picture

Senseless. I just bought undeveloped land in upstate NY for under $3k per acre. I was looking in upstate SC (Clemson, Greenville area), also, but land there is around $5k per acre.

Besides the tallies being just short of fiction (I should be happy with my 5.4 acres, worth ~40K per), You have to take into account improvements if you want any kind of number which would be useful.

I am of the mind that GDP should be scrapped as a measure of "wealth", replaced by asset value (net and gross) to determine the strength of the economy. Then add in all the baseball cards, old rocking chairs, and other stuff we accumulate. That would be mind-boggling and probably show just how rich the USA really is.

Of course, many of the assets are tied up in mortgages, CC balances, etc., but there is some vast hidden wealth in the cities and out in the countryside.

Using GDP, and "growth" only favors the banks, Wall Street and the various governments who tax the shit out of everything.

Wed, 04/22/2015 - 21:24 | 6020515 Big Corked Boots
Big Corked Boots's picture

Get back to us when you get your NY property tax bill, 'K?

Right now my little farm in NJ has a $8400/yr tax bill. It is 75 minutes from either Times Square or City Hall in Philly. An equivalent property - house, barn, stable, stream, road access, land size and features - in the Albany and north area, 3 hours from Da City, is the SAME price and $13000/yr taxes.

Greenville SC is nice. I think you would be infinitely better off there. Thousands of New Yorkers can't be wrong, they're on their way there now.

Wed, 04/22/2015 - 21:47 | 6020574 tarabel
tarabel's picture

 

 

My bill on 75 acres and two houses is $350.

I can fly to New York City any time I want for a couple hundred bucks. Not that I want to.

Wed, 04/22/2015 - 22:11 | 6020653 A Lunatic
A Lunatic's picture

Precisely.....

Wed, 04/22/2015 - 22:11 | 6020652 Thirtyseven
Thirtyseven's picture

Yeah, even in upstate NY most counties assess taxes in the 3-4% range of "assessed" value.

So basically every 25-33 years you're paying your local government the entire value of your property once over again, and that's assuming the assessment isn't inflated, as it most often is.

Wed, 04/22/2015 - 22:29 | 6020704 A Nanny Moose
A Nanny Moose's picture

Proof that there is NO private property. Everybody rents. Without private property there is no free market economy.

Thu, 04/23/2015 - 00:29 | 6020936 Jumbotron
Jumbotron's picture

Been sayin' that for years.

Thu, 04/23/2015 - 08:21 | 6021362 Atomizer
Atomizer's picture

After the mortgage is paid, some areas require HOA fees, and topple that with a added regime fee. 

Just tell them your placing a craigslist ad for a Mexican landscaper who just crossed the border. 

Thu, 04/23/2015 - 03:09 | 6021093 Farqued Up
Farqued Up's picture

Oh shit, there goes the neighborhood.

Thu, 04/23/2015 - 06:53 | 6021204 Sixdeuce062
Sixdeuce062's picture

horray more dumb yankees traveling south trying to tell how fucked up their state was and why we should be more like them no thanks maybe we should hire border guards to keep the stupid out of the good states

Thu, 04/23/2015 - 11:46 | 6022240 Full Faith and ...
Full Faith and Credit's picture

On their way? They're already fucking here. 

Try to enjoy your coffee and a little Carolina sunshine with some goombah from Staten Island talking at 95 decibels about some fucking meat that he has to offload or he'll be "fucked like a Jersey Turnpike whore". 

All of these idiots do not realize that they are the god damn problem. They all sat back for decades as Albany, Harrisburg, etc, raped the living shit out of business and property owners. They didn't care because they were still getting theirs(albeit at the expense of others), but now that these state governments have grown so large and out of control that their going after the smaller people who didn't put up a fight when it was the wealthier that were getting hosed. How does that mutha fuckin' karma feel bitchez? 

Great, come down to South Carolina with your fuckin' tattoo's and bro tanks. Good luck finding a god damn job. If you do get employed, it'll be by someone originally from that hell hole part of the country, because not one born and raised South Carolinian could give a fuck about helping these god damn people. 

Thu, 04/23/2015 - 11:46 | 6022241 Full Faith and ...
Full Faith and Credit's picture

On their way? They're already fucking here. 

Try to enjoy your coffee and a little Carolina sunshine with some goombah from Staten Island talking at 95 decibels about some fucking meat that he has to offload or he'll be "fucked like a Jersey Turnpike whore". 

All of these idiots do not realize that they are the god damn problem. They all sat back for decades as Albany, Harrisburg, etc, raped the living shit out of business and property owners. They didn't care because they were still getting theirs(albeit at the expense of others), but now that these state governments have grown so large and out of control that their going after the smaller people who didn't put up a fight when it was the wealthier that were getting hosed. How does that mutha fuckin' karma feel bitchez? 

Great, come down to South Carolina with your fuckin' tattoo's and bro tanks. Good luck finding a god damn job. If you do get employed, it'll be by someone originally from that hell hole part of the country, because not one born and raised South Carolinian could give a fuck about helping these god damn people. 

Wed, 04/22/2015 - 22:09 | 6020643 Dead Man Walking
Dead Man Walking's picture

NY State is cheaper because the winters get to 20 below and last until May.  I know, used to live in essex county. The cold is ever-present and draining. SC better deal at twice the price.

Wed, 04/22/2015 - 22:13 | 6020659 Thirtyseven
Thirtyseven's picture

There are people who truly like snow, and millions more who don't mind it, and millions more who tolerate it anyway.

I for one truly like it.  Bitter winds not so much, but snow and cold crisp air I love.

Wed, 04/22/2015 - 21:07 | 6020477 Who was that ma...
Who was that masked man's picture

So fucking what?

Wed, 04/22/2015 - 21:09 | 6020480 Icelandicsaga.....
Icelandicsaga...............................................'s picture

 

How much land do the feds own or control.. depends on the state in the case of Nevada they own or control over 80 percent .. http://www.nytimes.com/interactive/2012/03/23/us/western-land-owned-by-t... More than half the West is federally owned... http://www.washingtonpost.com/blogs/govbeat/wp/2013/10/15/almost-half-th... Seven states want some of the land back.. during Clinton regime he grabbed 3 million acres in Utah under the Antiquites Act .. most of it deposit of clean burning coal .. a pay back to the Riady brothers with large coal holdings for Indonesian Lippo group .. land grabbing and sweet heart deals . the govt or politicians do all the time .. Harry Reid is notorious in Nevada for taking land from farmers or ranchers and selling to Chinese or developers . he had made milions doing that . .the latest is the deal re Chinese pursuit of land in Nevada for carbon sinks . .and solar power 'farms' .. Reid got called out on that .. the Bundy Ranch episode.. was really all about that. Anyway .

Nevada

84.5%

Alaska

69.1%

Utah

57.5%

Oregon

53.1%

Idaho

50.2%

Arizona

48.1%

California

45.3%

Wyoming

42.3%

New Mexico

41.8%

Colorado

36.6%

Washington

30.3%

Montana

29.9%

Hawaii

19.4%

Wed, 04/22/2015 - 23:39 | 6020861 A_MacLaren
A_MacLaren's picture

Thanks for pointing out the Federal ownership (holdings) of the West. It hugely impacts average value.

Why you got 2 down votes is that they must be from the sunrise side of the Continential Divide, or they're federal employees of the BLM.

More than half the West is federally owned. Now some states want that land
Wed, 04/22/2015 - 21:10 | 6020487 ali-ali-al-qomfri
ali-ali-al-qomfri's picture

DC is state? like in suspended state? confused state?

this was not on the Citizenship Test.

 

 

Wed, 04/22/2015 - 21:51 | 6020591 Vendetta
Vendetta's picture

District of Corruption is very expensive land...it costs serious money to snuggle with corruption.

Wed, 04/22/2015 - 21:46 | 6020559 Equality 7-25-1
Equality 7-25-1's picture

CA, TX, NY are the bubble.

47% of the land is agriculture? Are you including the pot farms on federal lands being grown by those friends of Yellen who cannot be named?

Thu, 04/23/2015 - 08:21 | 6021363 Beowulf55
Beowulf55's picture

Got GPS coordinates to those pot farms?

Wed, 04/22/2015 - 21:44 | 6020566 tarabel
tarabel's picture

 

 

First off, I want to know what this Commerce Department lackey is doing this for.

Is it a hobby? In which case, he should be fired for being extraneous to needs.

Is it a case of the government cataloging everyone's property into a centralized database? In which case, he should be fired for spying on his employers.

But in any case, the post-nuclear edition of this list is going to look radically diffferent.

 

Thu, 04/23/2015 - 05:50 | 6021181 prymythirdeye
prymythirdeye's picture

Enough with the nuclear nonsense already.

Wed, 04/22/2015 - 21:55 | 6020598 Yen Cross
Yen Cross's picture

 Invert those charts, and you'ld probably have a good " Jekyll Island " game plan.

Wed, 04/22/2015 - 21:55 | 6020600 PartofOne
PartofOne's picture

The map's value appears related to a population density map.  My hypothesis is that land has no value without people (ex: how much is Jupiter/Saturn/Venus/etc. worth?).  Tangible items have no value without slaves to work them and provide value.

Thu, 04/23/2015 - 06:54 | 6021208 DIGrif
DIGrif's picture

Exactly.

Wed, 04/22/2015 - 21:55 | 6020601 OC Sure
OC Sure's picture

Currency in circulation/land of 48 contiguous states = basic barter value:

$1,360,000,000,000/1,860,000,000 = $731 per acre

 

Total Federal Reserve Balance/land of 48 contiguous states = basic barter value:

4,531,035,000,000/1,860,000,000 = $2436 per acre

 

Currency in circulation/ United States official gold holdings = basic barter value:

$1,360,000,000,000/237,212,500 ounces = $5,733 per ounce

 

Total Federal Reserve Balance/United States official gold holdings = basic barter value:

4,531,035,000,000/237,212,500 ounces = $19,101 per ounce

Wed, 04/22/2015 - 21:59 | 6020618 q99x2
q99x2's picture

FEDs shouldn't own anything. Actually nobody should own over 10,000,000

Wed, 04/22/2015 - 22:06 | 6020639 Thirtyseven
Thirtyseven's picture

Has anyone informed Ted Turner?

Wed, 04/22/2015 - 22:04 | 6020634 Thirtyseven
Thirtyseven's picture

Does that per acre calculation include or exclude government owned?

Wed, 04/22/2015 - 22:52 | 6020677 Kirk2NCC1701
Kirk2NCC1701's picture

Given that you're only leasing your property from Gov (via Property Taxes), 'buy' only what you need.

And here's a gem that no ZH writer or even the Tylers have told you, but I posted over a year ago...

That when you retire and will need Gov aid in some form, the prices will be so high that you will have to sell your assets to pay for health care and elder care.  If you're one of those  "perma-poor" welfare cases (e.g. ho with kids and ex in prison) or an illegal alien, you'll get Public Assistance.  If you've worked, paid taxes and built up Equity, then the Liberals dictate that you use up your savings and equity first.

And that is where FATCA and your Tax Filings come in: you'll have to show them, to get Public Assistance of any kind. 

Which is why it makes sense to have Assets that are below the radar, below the ground or lake, or offshore.  All sheltered JIT legally, of course.  So FU, gov trolls!

Thu, 04/23/2015 - 05:48 | 6021179 gwar5
gwar5's picture

Boomer boating accidents spiked up after you posted your comment...

 

Thu, 04/23/2015 - 08:24 | 6021376 Beowulf55
Beowulf55's picture

the lake that I had lost my assets in dried up.

Thu, 04/23/2015 - 01:20 | 6021015 Nexus789
Nexus789's picture

Don't think California land values will stand up as the drougt continues to spread.

Thu, 04/23/2015 - 03:25 | 6021109 Farqued Up
Farqued Up's picture

They need to shut down HAARP if they want Californicator to have basic water.

Thu, 04/23/2015 - 05:45 | 6021175 gwar5
gwar5's picture

I'll take Alaska.

 

It's not even registering in these charts but it's bigger with more natural resources than all the others. No desire to live next to Bruce Genderbender in Malibu.

 

Thu, 04/23/2015 - 08:06 | 6021312 Atomizer
Atomizer's picture

Illegal immigrants and ninja home loans, that ought to have a impact to a strong economy. 

We know how that movie ends. 

Thu, 04/23/2015 - 08:58 | 6021496 Lone_Star
Lone_Star's picture

"…wrote Mr. Larson, an economist at the FEDERAL HOUSING FINANCE AGENCY"

Lost his credibility right there

Thu, 04/23/2015 - 09:29 | 6021628 cherokeepilot
cherokeepilot's picture

Author must have gotten his figures from the 1800s.  My farm, in kentucky, is certainly valued at more than $7.40 per acre.  Two farms near me sold for $500.00 per acre.  I certainly would not sell my land for less than that.

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