Arizona Land Sells For 8 Percent Of Peak PriceMay 30, 2011 7:29 am
We spotted this today:
“A 10,200-acre desert site in Arizona sold for $32.5 million this week, five years after a group with investors including the California Public Employees’ Retirement System paid $400 million for the land.
The site … had been planned for a 42,000-home community by the Calpers- financed group when it was purchased in 2006.”
Statistics Source: Bloomberg
Bonus: “This won’t be developed in my lifetime.” said Kent Kleinman, a spokesman for the buyer …
Meantime, the Chinese are taking over Vancouver – is that a hint for a solution?