Buying Property out West?

Question

I heard of this idea before; buying unused land out west where, as of today, nothing could be built on it. The purpose of buying this land is so that when population expands they will eventually need your land.

Does anyone know anything about this topic?

I am interested in it since land is so cheap but would I ever see a return on it within my lifetime? I am 20 right now.

Jon Holdman · Answer

As Don says, ALL land is owned by someone.  There's LOTS and LOTS of land that is never in any of our lifetimes ever going to see a house built on it.

It always cracks me up when people say "buy real estate, they're not making any more".  They don't need to, there's plenty already.

Take at the long term population forecasts.  The ones I've seen show world population peaking in about 2050, then declining.  In many countries, this is already happening - much of Europe, Russia, Japan.  You think we've seen economic turmoil now, just wait until population starts falling.

Just Don · Answer

DEPENDS on your definition of 'open'.  Privately owned land is just that,,,private, and owned.  If its public land,its in a reserve and NOT available.

Lots of city folk see farmer fields and pastures as  'open' or public land,,and that is NOT the case!!

Just Don · Answer

WHERE o where out west is said land??  All land has present use,,,there is NO vacant land of no use or much value.

Just because we still round up our covered wagons at night here,,,doesnt mean the land isnt used for buffalo grazing

Mike Rubin · Answer

The west is full of open land, just not where people are right now.

Mike Rubin · Answer

Haha I will take your advice for it. Maybe once I have enough to money to risk with that.