Living in south florida with land and home prices the way they have been here's my sad sap story.
1) was offered 5 acres of land for $80,000 out in the sticks. Told my wife we could build our own little world on it. The roads were dirt roads and she didn't want that cause there was no place to rollerblade (she is not even a avid rollerblader) those properties about 5 years later sold for $200,000 an acre! do the math!
2) saw some peoperty in a very upscale neighboorhood and they wanted $125,000 for it. Decided against trying to buy it cause I was in school. That same property sold 2 years later for $500,000.
3) we decided to build the house we are currently in so we decided to sell our house and the rental house we had near the ocean in Jupiter, Fl. we paid $70,000 for the rental and sold it, to buy our current house, for $170,000! nice huh? well that same property 1 1/2 years later was worth $325,000! If I had waited I could have sold it then and been mortgage free.