Posted by paul on September 22, 2007 at 22:29:34 from (66.44.132.223):
In Reply to: land prices/poll posted by n8terry on September 22, 2007 at 18:16:17:
If commodity prices remain up for 18 more months (I believe they will....) then land will continue to climb for a couple years. Farmers will have income data that the bankers can live with.
I believe _some_day farm land (not developer land that is farmed, but real farm land) will dropp again, but that may be some time off.
The wrench in the machinery is if some govt (ours, China, Russia, Middle East, Brazil) does something real whacky & upsets the apple cart.
For now, it looks like the world has pretty good cash-flow & demand for more grains, the USA currency is real weak & should remain so, inflation has a good chance of rising.
All of these things together show a rosey outlook for grain farming for the time being.
Farmers, of couse, can't actually earn any money for themselves, so they will strangle each other trying to outbid rents & land sales to get as big a piece of the pie as they can..... Using up all the money they thought they were making on the higher crop prices.
But - someday it will all drop again. Saw the land next to me be worth over $2500 an acre & under $1000 several times in my life - and I'm not actually that old.....
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