I pity the man who bought my family’s land for nearly $180,000

I still remember the day the man arrived from HCMC, driving to our countryside home with a bag full of cash, eager to persuade my parents to sell. When he bought the land in 2022, he was certain prices would double or even triple.

After the sale, my parents split the money between my sibling and me, helping us buy homes and settle in the city. Later, they moved to a more comfortable urban life as well. The only one left behind was the buyer.

Stories like this were common during the land fever a few years ago. From 2019 to mid-2022, rural land prices skyrocketed. Plots that were once ignored, filled with rocks and overgrown weeds, suddenly became worth hundreds of millions or even billions of dong.

Investors rushed in, buying up large plots to subdivide and sell. Many local villagers became billionaires overnight by selling land they had once used to grow cassava and sweet potatoes.

But the boom did not last. When the market cooled, only city and suburban properties retained value or appreciated, while rural land prices plunged by as much as 50%, with few buyers in sight.

Those who bought at the peak can now do nothing but wait for prices to rebound, for another boom, or for a miracle. The man who purchased our land does not bother to visit anymore, instead asking my parents to keep an eye on it.

During a market frenzy, people often forget that land in remote areas does not always appreciate. Only those who buy real estate for its actual value or use avoid feeling trapped.

Ambition in investment is fine, but chasing dreams of easy profits without a clear-headed strategy is a risky bet.

*This opinion was translated into English with the assistance of AI. Readers’ views are personal and do not necessarily match VnExpress’ viewpoints.