I just filled up my gas tank today at $3.95 a gallon. I drive a V8 sedan that isn’t necessarily a gas guzzler, but it ain’t no Prius either. After filling up for gas, I went to the grocery store for my wife and bought maybe 12-15 items and racked up almost $90 of groceries. I wasn’t buying steak or lobster, but yogurt, produce, blueberries, your basic whole foods.

This got me thinking that if the stuff we need is rising at such a high rate whom among us is going to be buying the other stuff we don’t really need? We all know we’re in a recession, but shouldn’t pricing go down in almost all other areas of the economy thus keeping inflation at bay?

I think this is what’s going to happen and as a result, I don’t see land prices, housing prices, or other non commodity items going up in the next few quarters. If you have cash on the sidelines waiting to buy dirt, I don’t see how you can get hurt jumping in now or even 6 months from now. Where the bottom is, I don’t know until I go to a few bank auctions, but I think we are getting closer.

On a sad and scary note, I’m preparing for my first law suit with the Treasure Lake Property Owner’s Association. Our negotiations have not been fruitful, and it appears the only way for my time to be productive dealing with them is through the dreaded legal system. I will keep you posted on the process.