What is going on?

In the last two weeks I have had more inquiries on vacant land than I had in the previous six months.

I have been in the real estate business since 1967 and made an interesting observation in that time. When we are about to come out of a recession an early indicator is vacant land sales. People, be they individuals, developers or builders, start looking at vacant land when they have a confident feeling that things are getting better, or about to get better. In fact, I once brought this to the attention of Crain’s Detroit Business, a weekly publication, and they ran an article about it, beginning with “Who needs Alan Greenspan when we have Gary Lillie?”

I hope I’m right once again. We will soon know.

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