BillyLand.com   >  Billy's Blog  >  Time to Invest in the Panic of 1837 Read what Billy has to say about investing in Land With more than 30 years of experience, there'll be lots to say! Time to Invest in the Panic of 1837 Friday, January 23, 2009 - The Panic of 1837 was one of the worst years ever for property values in New York City. Many New Yorkers lost their homes to foreclosure, and so many others were in default on their mortgage payments that the state passed a bill granting a year's grace period for them to catch up on what they owed. Sound familiar? According to economist Milton Friedman, the five-year financial crisis was comparable in severity to the Great Depression. In the midst of a freefall in property values, John Jacob Astor snapped up hundreds of real estate parcels in Manhattan, and accordingly became America's First Multimillionaire. Needless to say this property is worth billions today. The lesson here I believe is to look to the past. The time to own is now while a person can take advantage of todays bargain prices. Of course we are not going to become John Jacob Astor but he has established a successful course of action in times like today. 125 Parcels are up for Auction at the moment. Next up on the Auction Block is...   Missouri Land 2.864 Acres Wooded, Close To Lake Ends in: 8 Hours 4 Minutes Current Bid: $90.00   Colorado Foothill Land 5.098 Acres! Ends in: 9 Hours 56 Minutes Current Bid: $155.00   Oregon Woods 1.75 Acres Adjoins Blm Ends in: 9 Hours 57 Minutes Current Bid: $65.00   Branson- Creek Property Missouri 7.3 Acres Ends in: 9 Hours 58 Minutes Current Bid: $229.00   Missouri Land 5.9 acres Hardwoods Walk To Creek Ends in: 9 Hours 59 Minutes Current Bid: $145.00   California Land for Sale   1 Auction Colorado Land for Sale   40 Auctions Kentucky Land for Sale   15 Auctions Missouri Land for Sale   15 Auctions Montana Land for Sale   2 Auctions Nevada Land for Sale   5 Auctions Oregon Land for Sale   32 Auctions Oklahoma Land for Sale   1 Auction South Carolina Land for Sale   No Auctions South Dakota Land for Sale   2 Auctions Tennessee Land for Sale   9 Auctions Texas Land for Sale   1 Auction Washington Land for Sale   2 Auctions