Posted by tomstractorsandtoys1 on December 18, 2012 at 10:06:49 from (64.136.27.164):
In Reply to: Re: Farm land bubble posted by rrlund on December 18, 2012 at 06:34:08:
My banker said it is harder to borrow money for land today than ever before.With the high prices they want a large down payment and proof that it will cash flow with normal crop yeilds and prices.My bank will not lend for land on equity only cash flow.I guess they learned some lessons in the 80's.He told me they had few problems with the housing crash because they did not make loans to those who couldn't pay.They expect to see a leveling off to a small decline but not a crash.
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Today's Featured Article - Tractor Profile: Silver King - by Staff. Silver King tractors were produced by the Fate-Root-Heath Company of Plymouth, Ohio. The company was founded by John Fate in 1884 and was originally called the "J.D. Fate Company". After several mergers over the years, the final company name of Fate-Root-Heath came about in 1919. The first tractor produced was actually called the "Plymouth" tractor and was powered by a 20 HP 4-cylinder engine with a 3x4" bore and stroke. The four speed transmission had a top speed of 25 mph! After more t
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