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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Today's Featured Article - Show Coverage: Godfrey, Illinois Country Days - by Cindy Ladage. Except for last fourth of July's Old Gold show in Springfield, Illinois, I don't remember when it was so hot. Nevertheless, the heat didn't keep vendors and visitors alike from enjoying the third annual Country Day's Event. Jane Elliott said the event was originally a one man show. "Barry Seiler, owner of Country Town Farm Supply store used to invite people up to the Johne Deere store. He would give hats and a free meal for everyone that brings a tractor." Elliott said while this
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