Show BABSON'S Ii ST STATEMENT A TEl nog Rorer r W Special to THE EXPRESS THE LAND OUR MOST PRECIOUS ASSET Babson Park Mass Decem Decem- ber ber 23 Readers continue to 1 have a high interest In real I estate and in building judg Ing from the number of quest quest- questIons ions on this subject which we receive For this reason we discuss today some thoughts on onland onland land and coming changes In its value and use LAND COSTS STILL TRENDING UP Many of the problems cur cur- currently cur facing America arise from the fact that our tion has increased 50 percent In the past 25 years We are not yet bursting the seams of our large country but we are increasingly having to come to grips with difficulties brought broughton on by this population boom As we are required to share our land area which can never bevery be bevery very greatly expanded with more and more people addition addition- additional al upward pressure is placed on real estate prices We are now on the verge ofa of ofa a new wave of family forma forma- formations formations which will tend to increase that upward pressure The youn youn- youngsters born during the baby boom of World War II and the years ears immediately there after are now beginning to start families of oC their own Land prices all over the U S are also being bid up by expanding industrial al needs needs- and by the fact that so much rand land is being tak en for highway construction LONGER TERM PRICE TREND This heightened interest which in n a number of instances has has- exploded intO mad scram scram- scrambles scrambles bles bles- for specific pro pro- promises promises to Increase before there Is any appreciable letdown How How- However ever this does not mean that land prices everywhere and al- al always always ways need point up Each plot or land Is b unique in itself Row How much It will bring in tIle the mar mar- market ket Is quite as much dependent on its own special character character- characteristics as it is on land price trends generally Without much question the underlying price trend in real estate wilt be up in coming months assuming that no ser ser- ions ioas economic downturn gets un- un under under der way Evenso Even so an all land prices wm will not be participating in this rise to the same degree Some may even lose ground CHANGES IN THE USE OF LAND The population explosion of the postwar era has bas already led to some changes in the use of land We have seen the develop develop- development development ment of hundreds of shopping centers on the outskirts of cities and towns These have bave been set setup setup up to serve the s of pee peo- people pie who have forsaken the cit lea les to build or buy homes in inthe inthe the inner and outer suburbs We are on the threshold of ofa ofa a radical change in subdivisions subdivisIons Ions New population centers of vArying size will be developed We forecast that these will be beco co 00 design designed d that people will live work and play In the same oral ral neighborhood This type gen I of way three residential industrial and recreational planning will help prevent further huge tracts from being gobbled up for high high- highway way expansion We now have havea a work week of 40 hours Yet many working people spend as many as 20 hours each week commuting That waste must be stopped WHAT ABOUT FARM FARMLAND FARMLAND LAND Currently the balance bet bet- between between supply and demand in farm land is narrow We pre diet that interest In farm land will hold high because of the trend toward larger farm enter enter- enterprises because of expanding population and finally because industry and government are taking more farm land for non non- farm uses Market values of farm real estate have been advancing fair ly Iy regularly since the early We look for further mod mod- moderate erate gains in 19 1966 6 perhaps on the order of 45 percent Even if we should have an eco eco- economic economic slide off we would ex ex- ex prices of agricultural land to hold up pretty well The rea- rea reason rea son Most 1 owners of farm land are in strong comfortable fin fin- financial fin ancial position In general they are not heavily mortgaged hence there would not be any lIquidations great number of forced lIquida- lIquida But whether you are buying farm land or city real estate dont don't let the moderately bullIsh price outlook cause you to ta throw caution to the winds winds- en en- en entirely Remember that each piece of land should be appraised appraised ed on its own merits and be sure not to let yourself become e overburdened by debt |