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<blockquote data-quote="TheLBLman" data-source="post: 3482797" data-attributes="member: 1409"><p>That's an erroneous assumption, and many properties with outrageous prices have gone unleased (for the prices asked), only to reduce their prices the next year vs. risking their continuance of going unleased. (Not to say that some properties aren't worth $15 an acre and more.)</p><p></p><p></p><p>But <em>THAT</em> is correct.</p><p>Conversely, when a property goes unleased, that can majorly jack the price down.</p><p></p><p>A property is worth whatever the highest bidder is willing to pay. Hunters are willing to pay more for convenient properties to their homes, thus those good properties nearest the major metropolitan areas may command the higher prices. But they may not have the best deer hunting, just the best convenience, commanding a higher price, in part due to more bidders in the game.</p><p></p><p>To a large number of hunters, say living near Memphis, it may make more sense to pay a higher lease price for a place to hunt 30 minutes from home, allowing for more opportunity to actually go hunting, while saving money on gas and lodging.</p><p></p><p>As lease prices tended to go up, more landowners began leasing. Meanwhile, <u>the number of deer hunters has been shrinking</u>. Some areas are now seeing prices go down, as like most things, it's mainly the law of supply and demand that dictates price. Going to be interesting to see what some high lease prices in rural areas of states such as Illinois do in the coming years ---- my bet is they go down, way down.</p></blockquote><p></p>
[QUOTE="TheLBLman, post: 3482797, member: 1409"] That's an erroneous assumption, and many properties with outrageous prices have gone unleased (for the prices asked), only to reduce their prices the next year vs. risking their continuance of going unleased. (Not to say that some properties aren't worth $15 an acre and more.) But [i]THAT[/i] is correct. Conversely, when a property goes unleased, that can majorly jack the price down. A property is worth whatever the highest bidder is willing to pay. Hunters are willing to pay more for convenient properties to their homes, thus those good properties nearest the major metropolitan areas may command the higher prices. But they may not have the best deer hunting, just the best convenience, commanding a higher price, in part due to more bidders in the game. To a large number of hunters, say living near Memphis, it may make more sense to pay a higher lease price for a place to hunt 30 minutes from home, allowing for more opportunity to actually go hunting, while saving money on gas and lodging. As lease prices tended to go up, more landowners began leasing. Meanwhile, [u]the number of deer hunters has been shrinking[/u]. Some areas are now seeing prices go down, as like most things, it's mainly the law of supply and demand that dictates price. Going to be interesting to see what some high lease prices in rural areas of states such as Illinois do in the coming years ---- my bet is they go down, way down. [/QUOTE]
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