Dockery Blog

I'm back from the 18th Annual Rural Land Values Conference, a two-day conference in San Antonio sponsored by the Real Estate Center at Texas A&M University in College Station.  It was chock full of information on the current state of the economy, rural land values, various legal issues, water and wind rights, deer breeding, and much more.  In addition I met new and old friends in the real estate business.  I am truly amazed at the number and diversity of people in the rural land market, and how smart these people are. 

I've added some of the speakers information on my website.  Be sure to have it emailed to you if you're interested.  (Click Here)

I came away from this year's conference with the following:

1.  We're in a national recession despite what the government tells us.  Texas is doing best of any state mainly because of our oil and gas industry.

2.  Our state will double in population by 2050, and the urban areas will just get bigger.  I-35 will just get more crowded. 

3.  Rural real estate is a better hedge against inflation than most bonds, with better returns.  Farm land is being sought after by institutional investors! 

4.  The Coastal Bend and surrounding counties saw an increase in rural land prices of more than 34%!  WOW!!  But it is not expected to increase much, if any in 2008.  The main economist (Charles Guilliland) has been wrong three years in a row in that prediction. 

5.  A re-election year with lots of turmoil in the economy makes it difficult to make predictions for economists.  They have a 50% chance of being wrong!

People (Market Participants) are interested in what's going on in rural land values as it impacts their back pocket.

So there you have it another interesting view of the economy.  Of course, it only makes sense if you understand economics.  Sometimes I'm not sure if I do. 

Until next time.

RLD