The Fed Cuts Rates!

I just read the news that the Fed cut the lending rate to banks to 4.25%.That's good news for the economy and the real estate business.
Of course, the idea of it is to stimulate the economy.I am in the land business and for land that is used for residential development this should be good news.Many developers have more land than they can say grace over at this time. Eventually, the lower Fed rates will mean lower mortgage rates and that will stimulate residential sales which will reduce lot inventories and bring many more residential developers back into the land market.
As this segment comes back into the land market, market pressure will push land prices up.For right now in Central Virginia,I see land prices holding steady.