I spoke with a friend from North Dakota, and he said Californians are buying up lake properties at the Canada border, and the prices have multiplied in the last few years. He thinks it’s a great time to develop more lake front property. I told him to be careful, although I have no idea how long Californians will be flush with cash and able to bid up properties in the rest of the nation. As CA prices come down, they just won’t have the equity to go on those spending sprees.
