Posted by W_B on March 05, 2013 at 07:12:12 from (155.188.183.17):
Another real estate bubble just waiting to burst?...
Agricultural production and farmland loan balances at U.S. commercial banks have increased above and beyond pre-financial crisis levels, according to an analysis by SNL Financial.
Farmland lending has grown from over $52 billion in 2006 to over $72 billion at the end of last year, while ag production lending has grown just over 19% for the same period. Total bank loan portfolio lending rose 17.7% over the same period.
Farmland values have increased right along with farmland loan balances, so much so that many fear a farmland bubble in the works. The Federal Reserve Bank of Kansas City reports that "...crop land values posted year-over-year gains of more than 20% for the seventh consecutive quarter � ranch land values surged nearly 20%." The Federal Reserve Bank of Chicago reports that the district's 2012 annual increase of 14% in agricultural land values was the third-largest increase in 35 years, after adjusting for inflation.
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Today's Featured Article - Tractor Proflie: John Deere Model R - by Staff. The John Deere Model R, the last of the lettered tractors, was the first diesel-powered tractor produced by John Deere with a gasoline starting engine. It was also the first tractor they produced that had an optional steel cab. The photo above shows the tractor w
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