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Somersofters are generally out of whack with the general public opinion. I think it is a good time to buy. I lived in Butler WA a three years ago. The prices are the same then as they are now. The big difference is back then you had to go in a ballot to buy a block of land. At that time...

Much better to buy when the prices are going up and everyone else is buying. Can't beat the herd mentality. He said long term investment, so what's wrong with it being negative geared for a while.