Residential lots: the next big boom

Investors buying on the cheap aim to capitalize on recovery

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Over the past two years, in a number of markets stretching across the West, from Phoenix through Las Vegas to Sacramento and Riverside, investor groups have been maneuvering to acquire finished residential lots that due to the recession ended up stranded without hope like lost pilgrims in a vast desert.

There were so many unfinished developments of one size or another that the buying spree lurched along in starts and stops through this year with another great push at the end of 2009.