We have more outside influence in land prices than we did in the past from people buying land for recreational purposes. JohnMO stated that people are buying land based on what the payment is and not how much it cost. This is true. We will find out if they can really afford these "farms" when crunch time comes and it is a choice of making the house payment or farm payment.
dhermesc said that very little farmland was involved in the subprime mess. How do you think some of these urban buyers financed the down on the rural property? By using the equity in their homes.
Believe it or not, the health of our economy is based on the price of crude oil. When crude is cheap, we have a boom. When crude is high we have a bust. We're fixing to have a bust. I really hope I'm wrong on this.
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Today's Featured Article - History of the Nuffield Tractor - by Anthony West. The Nuffield tractor story started in early 1945. The British government still reeling from the effects of the war on the economy, approached the Nuffield organization to see if they would design and build an "ALL NEW" British built wheeled tractor, suitable for both British and world farming.
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