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Yet another example that the land is overvalued. It's easier to find a sucker to pay you 15m an acre than it is to try and actualy get an ROI and monetize through development. Not one single person who has a basis north of $10m/acre has actually built anything. The closest anyone's come is strategic acquisitions by Harrah's and Boyd, but it's apples and oranges.

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Yeah, what could you build that is going to double a multi-million dollar investment in a couple of years? What patsy is finally going to get stuck holding Nevada desert?