Posted by noncompos on January 31, 2008 at 13:12:04 from (65.102.20.70):
In Reply to: update and more info posted by caleb on January 31, 2008 at 12:45:19:
I don't know anything about your area, how much prices ran up the last few years, and how much they're likely to run back down, if things don't pick up pretty fast... While they're not making any more land, they are bringing more and more foodstuffs in from cheaper producing places outside the US... For a gloomy forecast see Lawrence Yun's tables and comments (he's with the Nat'l Assoc of Realtors, and he's been very optimistic--as he would be,usually, that's what he's paid for--punch in "housing starts" and scroll down to realtor.org); granted, he's talking about housing starts, and it's not directly applicable to farmland, but if housing really crashes, it'll pull a lot down with it. For God's sake, do a lot of research, both about your local area as well as nationally, and if you decide to buy do it on the basis of "it seemed like a good idea at the time"...if you do well, wonderful;, if you turn out upside down, you'll have lots of good company. Best wishes, and Good luck.
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