Unfortunately now when there is a crash, the land gets sold off by the bankruptsy judge to an even bigger outfit, rather than sold off pacel by parcel.
As happened with the Family Farms outfit in Illinois, and the Stamp farms in Michigan and south. Even the land they were rented the rent contracts got sold, the person owning the land couldn't choose who would fulfill the remaining part of the contacts.
So when this all crashes in, the govt has it set up so the big will get bigger.
As is typical.
If you saw a press release from the land sale you mention, the head of the buying group said they feel university spread sheets are wrong and there is plenty of room to get better returns on land than the Us are projecting.
Meaning, they figure $400 rent should work out fine.
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