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| Boone has shared that he uses a formula to assess farms based on economic value at the time. Nowhere does he state that that is what a farm should sell for. Don't know for sure, but I don't think he really has to worry about paying more than he can afford for a farm, but has made the choice to invest in other mediums that are more fairly valued when based on income potential.
There have been several farms in my area that the new owner will never gross with crop sales, the purchase price of the farm during the rest of their farming career. If they wish to buy at that kind of price, and have the money, whose to say they can't .... doesn't bother me, I really don't care, but does it make sense (economically)?? Time will tell. | |
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Markets are giving some an education in history
