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sw ontario | When a sector of the economy starts to suffer mfg. is first to feel it be it farm equip't, cars,housing as machinery sales both new and used got hurt first in early '80's before land mkt.....FWIW then I don't know of any rents that dropped as guys preferred renting as capital at a reasonable cost was not available too buy land.......all this played out over at least 6 yrs. ,it was good for young guys at the time who were niave and didn't have much land as in '83 you could buy a farm for 2/3 of the price it was in '79 ..... we were forunate to get some more bought in next 3 yrs. and each one cost less than the previous.....the big wheeler dealers from the '70's either didn't want any more risk or were facing tough times themselves | |
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Caterpillar closing 5 plants, cutting 670 jobs
