Well, now that First Land is cancelled, the Great Eastern Land Rush has begun.
Sims such as Midar Fell are in auctions for up to $USD 2801.00 and only 20 hours to go, boys and girls! Chopped up sims in 512 sq m plots are selling for around 8k L$ each on average.
I guess I just don't get land speculation.
If you spend $2800 USD on a sim that you then split into 128 parcels of 512 sq m,
which you then sell at approximately 8k L$ each,
are you not selling land that you bought at
($2800 USD/128) ~ $21 USD and change
for approximately $20 USD
(assuming a current exchange rate of $4 USD for 1000L$) ?
Seems to me this bubble is about to burst and I aim not to be holding the landbag when it does.
Irrational exuberance, indeed.
Edit: OK, I think I do have a mathematical blind spot! The volatility of the Lindex doesnt help!
Turns out you'd be selling land at @ $30 USD that you bought for @22 USD.
That does seem a bit clearer. :D Plus, it's still the lowest priced land around.
