The Three Horse Economy – Introduction

A Three Horse Race:

I have never witnessed an occasion where all of the economic forces are positive. The normal condition is that there is a combination of forces, some that are positive and others that are negative economic trends. However, usually one economic force is so strong it overpowers all others.

Now in my 46th year of land brokerage, we are experiencing a truly unique situation. There are three forces that are of such significance that it is difficult to know which one will be the dominant.

Over the next several weeks we are going to describe those forces and share our opinion as to what we believe will evolve in the American economy over the next 12 months.

It is critical to remember that land is the source of all wealth. Every product that we humans consume originates with land. Not all tracts of land are equal in quality and portfolio management requires every investor to hold some cash for liquidity. But historically, long term the best investment is land.