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This has been the case all over the country. It was really easy to make money in real estate development for years. Just buy cheap land on the fringe, throw up shoddy spec homes, don't tie in with the existing infrastructure, sell, and forget about it. With peak oil on the horizon natural resource constraints will shift the paradigm of urban development. It is up to our elected officials to stay ahead of the game and begin working now to ensure continued urban prosperity.
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