Re: Well, Kick Me in the Gut!

Posted by ratherbfarming on February 10, 2005 at 13:05:58 from (66.82.9.29):

In Reply to: Well, Kick Me in the Gut! posted by Allan in NE on February 10, 2005 at 07:09:10:

I know where you are coming from Allan. Before my husband died, we had built a spec house specifically to sell it for $$ to buy our own farm. We sold the house in Oct. 2000, and we started farm shopping. He was killed in a snowmobile accident in Mar. 2001, without ever owning a farm. It took until last spring for my children and I to find a place reasonably priced. All we got was 33 acres with our place, but a nice shop, house and other outbuildings. Enough for a few toys and some heifers. Todays economic situation makes it hard for people starting out and it really doesn't matter that interest is 5% if the ground is $3000 an acre. It is a wash when you compare to even 5 yrs. ago with decent land (in my area) selling for 1000-1500 an acre, but interest was 9% for a 15 yr. fixed ag real estate loan. And look at crop prices, milk prices, whatever... they are nearly exactly what they were 2 decades ago and expenses/land prices/equipment, not to mention fuel are 10X what they were. It is frustrating!
Good luck to you and your wife. Hopefully one of these days, a property will come up that is perfect for your family.
~Heidi :o)

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