Remember Although not able to sell a block the council...

Remember Although not able to sell a block the council valuations again because of the previous boom[more like growth] and I think only doing valuations every 3 years my blocks probably were valued at around $40,000.00 I cannot remember. I bought the 100 acres with waterfront and permits permits for $550,000.00 paid cash for that borrowed for the roads,power,water etc $250,000.00. Only developed the first stage, tipped in my house[cost $550,000.00 to build sold it for $375,000.00 and what people have to realise is that once committed as people are now you have to plow ahead no matter what and thats what we are getting now most commitments are finished and nobody is willing to venture on so the economy is grinding down.Also interest rates may be 5% or so but the borrowing criteria is extremely tough making most people ineligibe to borrow.