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	Name:	boataholic -
	Subject:	Link please?
	Date:	7/19/2006 2:06:17 PM

Paste the long text above in your browser. Important points are that housing bubbles in coastal and vacation properties do exist. They are occuring in FL and occurred in Japan (lots of coast!). However, the article also promotes certain areas that are still affordable, including Lake Martin. They give a mini-promo for Lake Martin that sounds like BS written by the Russell Lands guy they quote.

My 2 cents: The best 300-400 foot properties with multi-mile long views in three directions are no where near the top yet. There are many of these with ordinary cabins on them that haven't begun to be appreciated yet. If the so-so lots in the Ridge can command high prices, the older better lots ought to go for much more. Think about it, if you won the lottery would you balk at two million to acquire your favorite location on Lake Martin? three million? five million? Ordinary lots will not keep up with the rate of appreciation of these best lots though, and I remain suspicious of the market for 500,000+ condos in rural Alabama. Condo people like shopping, restaurants, and amusement parks to go with their water fun.