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I still dont get how land properties are being sold off below land value unless its a once off or the council values are wrong

http://mobile.news.com.au/finance/real-estate/house-prices-tumble-at-the-coalface-with-some-now-on-the-market-for-less-than-land-value/story-fndbalka-1227290490188 Wow, what a price drop One of mine has dropped substancially but not this much Does anyone have one here or know anyone...