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New York

Land is cheap, but risks still high

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Land prices are declining as developers, home builders and small landowners are selling lots they once meant to build on. But investing in land is still risky business; most buyers must have cash on hand to make purchases and land loans are difficult to obtain. Investors also have to make sure the land is environmentally safe and often have to combat rezoning laws. The Real Deal reported on falling land prices in its May issue.