Second Life Real Estate Crisis!
photo credit: TaranRampersad
Second Life Real Estate Crisis!
On their blog Linden Labs reported that mainland prices are up to L$11.5 per meter. The price of land in private areas is L$3.6 per meter. Linden Labs is increasing the production of Mainland land. 10 more Mainland regions will be supplied per day. The price of auction starting prices will drop from $1250 to $750. A huge amount of land is abandoned and being recycled into the system. Linden Labs reports 950,000m of abandoned land currently with 3,071,056m of abandoned land recycled in the first quarter. The price of islands is also dropping from $1675 to $1000.
So What Does This Mean?
Well I have NEVER seen Linden Labs decrease prices EVER. Especially not on the Island prices! There is clearly less demand for private land and the abandoned land stats are shocking. What is Linden Labs doing? Increasing supply on Mainland. Is that wise? Can you say inflation? This is a real land crisis.