is this a good time to buy land?

Hi! I'm thinking about buying a rather large plot, 20ksqm+ right now, but I'm not sure if this is the right time to buy. The land prices seem to growing ever higher, and I haven't really paid enough attention in the past to make any predictions.

Since this is the land and the economy forum, I've decided to come here for advice. Will the prices keep climbing? or will they drop in the winter? And would you buy land right now?

You shouldn't look at just prices of land. You should also look into the purchasing power of the Linden Dollar in your calculations.

I have a feeling (just trying to collect more data) that land valuations are going up, not as a result of property values increasing, but because of Inflation in the Linden dollar.

Think about it for a second.. There are 6,304 parcels of land forsale. Anybody can look at the map and see all the forsale plots. Now based on the laws of supply and demand, with all those plots forsale, how on earth could prices be rising with so much supply? The answer time and time again points to Inflation.

As the number of Linden Dollars grow in circulation, its purchasing power declines. That effect causes the numerical price listed for land to go up. Otherwise, the seller risks losing value if they keep their L$ asking price static for months...

So i wouldn't jump on the Land's Going Up in Value band wagon yet. Your eyes may be playing tricks on you.

well, that's not quite what i wanted to ask, but thanks anyways. i went ahead and bought it ... fell in love with the place

now to see if i feel ripped off in about four months or so >_>

oh hell, it's beautiful XD

That is exactly why you should buy land - because you love it!

The only time i say to worry about the value of a particular parcel in the future is if you are specifically buying land to resell it and turn a proffit.

Otherwise the resell value doesn't matter because you're getting your money out of it in other nontangeable ways

"That is exactly why you should buy land - because you love it!"

I agree. I paid an INSANE price for my land (about L$25 per sq m!) but it was exactly what I wanted and there was nothing else remotely like it around (a nice mainland island bounded by Gov Linden and two sim edges (one of them to the void)).

Musuko.

The purchase price of land is relatively trivial compared to the monthly tier fees anyway - another instance of seeing the RL value of the L$ for what it is compared to the US$ you'll be paying Linden Labs.

I feel the same way, the land i purchased was because i love the area and the sim right next to it. Nobody is here to be an economist, its a game last time i checked. If you are cool with the tier then take the spot.

Whenever somebody buy's something and yanks around the resale value they kill the joy in having it in the first place. As far as inflation, probably that part sucks but too many people float around in SL trying to figure out how to make money and lose the whole point of being here in the first place.

Happy is not a commodity

According to whom? No one in a position of "power" has ever called this a "game." Not the creators and devs. They call it a platform.

SL has many uses. Some can and do be economists because that's what they want, and lets face it we have an economy. Others are here for the fun. While even others are here to create. Some are even here for the cash, silly as that may be.

You can call it what you like, do with it what you will, but no reason to brush off opinions based on what you decide to do with your SL.

The question was about land values. Part of it is inflation, part of it is land prices are going up. But never before have I seen such a gap in price for different types of land. L$25/sqm are you mad?! You may like that land today, but next week it could have rapid moving texture box where that water used to be. You'd think this would drive down the prices, but it seems not.

I also paid a bit extra to get exactly what I wanted, so it's good to hear that you found your dream plot. For any others reading this for advice, however, I'd recommend that you know exactly what you are going to DO with land before you buy it.