I purchased a fairly large tract less than 5 years ago and still would be ahead if it went down 50%. Also believe nearly all the farm ground held today is held by parties in strong financial condition, the fallout from the early eighties caused the bankers to be a lot more conservative. Therefore I wouldn't base my farming future on having a big downturn in real estate prices. For undeveloped residential property the story isn't so pretty, the banks threw money at housing, but even with a 50% retraction it would still be entirely too expensive for farming.
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Today's Featured Article - The Tractor Parade: Story of a Case SC - by Bernie DeLon. On a early fall morning back in 1994, I opened the newspaper and happened to spy an article about a local antique tractor club having their annual show that weekend.
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