Re: Farm land bubble in the making?

Posted by NY 986 on March 05, 2013 at 13:59:35 from (67.142.178.23):

In Reply to: Farm land bubble in the making? posted by W_B on March 05, 2013 at 07:12:12:

I would say erosion of values for sure. Most of the high priced purchases were made by older well off farmers. New younger farmers will not have the resources to bid values as high due to the need of more financing along with less equity. The government will come into play as they will see these high valued farmers as a source of revenue to help with the federal debt. High property taxes with soon to come local income taxes will make land a less attractive investment compared to other investment types driving values down.
The possibility of a collapse does exist especially if a series of political events helps precipitate a collapse in the commodity markets. There will be far fewer foreclosures and bankruptcy as banks have insisted on higher down payments and equity levels. Still the possibility exists for severe erosion of the balance sheet in short order.

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